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प्रश्न
"Fixed assets should be valued at the market price." Comment.
एका वाक्यात उत्तर
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उत्तर
The statement is wrong. The fixed assets should be valued at cost less depreciation. Fixed assets should not be valued at market price because they are not meant for resale.
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Generally Accepted Accounting Principles (GAAP)
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
संबंधित प्रश्न
What does GAAP stand for in Accounting?
Explain the Business Entity Concept.
Explain the need for GAAP for accounting.
______ is the language of business.
According to this principle, cost of a particular period should be charged from the revenue of same period only.
According to Business Entity Concept:
What is meant by going concern concept of Accounting.
Discuss in brief the basic principles of accounting.
Explain the money measurement principle of accounting.
Name any four concepts of GAAP.
