Theoretical Framework-Accounting Concepts, Principles and Conventions (CA Foundation Principles of Accounting): Questions 1 - 12 of 16

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Question number: 1

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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Discuss the going concern concept with an example?

Question number: 2

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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Can book keeping and accountancy be called as one and the same? State reasons for your answer.

Question number: 3

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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Explain the business entity concept with an example.

Question number: 4

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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What conditions are to be satisfied by an accounting principle?

Question number: 5

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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What is the difference between the term concepts and conventions?

Question number: 6

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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What is meant by the term book keeping?

Question number: 7

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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What are the steps involved in accounting a single transaction?

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Question number: 8

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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Why the accrual concept is considered as important to know the true financial position of a firm?

Question number: 9

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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How can the accounting principles be classified?

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Question number: 10

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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Why should a business follow the convention of consistency?

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Question number: 11

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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Mr. Kamal sold goods to Mr. Vikas for cash Rs. 25000. Show how Mr. Kamal and Mr. Vikas would record the transaction in their books according to the dual aspect concept.

Question number: 12

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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Mention features of Accounting Principles.

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