Every transaction has two aspects i.e., debit and credit, under which of the following accounting principles:
A) Cash Accrual Principle
B) Revenue Accrual Principle
C) Dual Aspect Principle
D) Double Entry Book-keeping System
Correct Answer:
Verified
Q31: A deduction allowed to the buyers from
Q32: Goodwill is a
A)Current asset
B)Tangible asset
C)Intangible asset
D)Liability
Q33: What type of expenditure is shown as
Q34: A business firm is separate and distinct
Q35: General rules that are used as a
Q37: Anticipate no profits and provide for all
Q38: Accounting procedures and accounting practices should remain
Q39: An ink-stand has been purchased by a
Q40: When a machinery is purchased for cash,
Q41: Rules of revenue recognition determine that earning
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents