Financial and Management Accounting-Basic Accounting Concept (CBSE-NET (UGC) Commerce (Paper-II & Paper-III)): Questions 6 - 7 of 7

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Question number: 6

» Financial and Management Accounting » Basic Accounting Concept

MCQ▾

Question

Qualitative transactions are not recorded in accounts due to

Choices

Choice (4) Response
a.

Going concern concept

b.

Dual aspect concept

c.

Money measurement concept

d.

Business entity concept

Question number: 7

» Financial and Management Accounting » Basic Accounting Concept

MCQ▾

Question

The fundamental accounting equation “assets = liabilities” is the formal expression of

Choices

Choice (4) Response
a.

Money measurement concept

b.

Matching concept

c.

Going concern concept

d.

Dual aspect concept

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