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Match the following items from column A with column B
- a)1-b, 2-a, 3-d, 4-c
- b)1-b, 2-a, 3-c, 4-d
- c)1-a, 2-b, 3-d, 4-c
- d)1-b, 2-d, 3-a, 4-c
Correct answer is option 'D'. Can you explain this answer?
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Match the following items from column A with column Ba)1-b, 2-a, 3-d, ...
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a)consistency means stable and not change frequently, in accounting we used it that what policies u adopt, u should not change them very frequently.
b) money measuremrnt is the basic concept of accounting, it means only those transactions are recorded in accounting books which can be measure in money terms, so here loyalty can not be measured in money terms.
c) accounting entity concept means that business and it's transactions are distinguished from its owner, and owner is considered and treat as an another person.
d) conservatism concept means that u record the losses which can occur in future but can not record the incomes which u can earn in near future. That is why u provide provisions for anticipated losses like provision for doubtful debts but u never see an anticipated income in accounting books which u 've earned yet.
a)consistency means stable and not change frequently, in accounting we used it that what policies u adopt, u should not change them very frequently.
b) money measuremrnt is the basic concept of accounting, it means only those transactions are recorded in accounting books which can be measure in money terms, so here loyalty can not be measured in money terms.
c) accounting entity concept means that business and it's transactions are distinguished from its owner, and owner is considered and treat as an another person.
d) conservatism concept means that u record the losses which can occur in future but can not record the incomes which u can earn in near future. That is why u provide provisions for anticipated losses like provision for doubtful debts but u never see an anticipated income in accounting books which u 've earned yet.
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Match the following items from column A with column Ba)1-b, 2-a, 3-d, 4-cb)1-b, 2-a, 3-c, 4-dc)1-a, 2-b, 3-d, 4-cd)1-b, 2-d, 3-a, 4-cCorrect answer is option 'D'. Can you explain this answer?
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