The concept of conservatism will have the effect of______________?

✅ A. Sundry Debtors

Option A : Sundry Debtors Option B : Stock Option C : Prepaid insurance Option D : All of Correct Answer : All of and above Read more

✅ A. No flow

Option A : No flow Option B : Sources Option C : Uses Option D : Gain Correct Answer : No flow Read more

✅ A. Profit & Loss Account is prepared for a certain period and hence it is an interim statement

Option A : Profit & Loss Account is prepared for a certain period and hence it is an interim statement Option B : Profit & Loss Account does not disclose the effect of non-financial items Option C : Net Profits are ascertained on the basis of current costs Option D : Net Profits as disclosed by P&L Account is not… Read more

✅ B. Putting the new asset in working condition

Option A : Expenses for day to day running of the business Option B : Putting the new asset in working condition Option C : Depreciation Option D : Purchase of raw material Correct Answer : Putting the new asset in working condition Read more

✅ D. Maintenance of the Asset

Option A : Acquisition of an Asset Option B : Extension of an Asset Option C : Improvement of the existing Asset Option D : Maintenance of the Asset Correct Answer : Maintenance of the Asset Read more

✅ C. distribution cost.

Option A : prime cost. Option B : factory cost. Option C : distribution cost. Option D : production cost Correct Answer : distribution cost. Read more

✅ D. Depreciable value

Option A : Scrap value Option B : Residual value Option C : Market value Option D : Depreciable value Correct Answer : Depreciable value Read more

✅ A. Debtor

Option A : Debtor Option B : Creditor Option C : Defaulter Option D : Offender Correct Answer : Debtor Read more