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CBSE Notes 2011-2012 » XI-Accounts

Theory Base of Accounting

The benefits to be derived from information should not exceed its cost.

Multiple choice question

The benefits to be derived from information should not exceed its cost.

The expenses of the owners of the business need to be recorded as expenses of business

Multiple choice question

The expenses of the owners of the business need to be recorded as expenses of business

All transactions that affect the business must be recorded.

Multiple choice question

All transactions that affect the business must be recorded.

The accounting data should be verifiable and free from any bias.

Multiple choice question

The accounting data should be verifiable and free from any bias.

A concept that a business enterprise will not be sold or liquidated in the near future is known as

Multiple choice question

A concept that a business enterprise will not be sold or liquidated in the near future is known as

The primary qualities that make accounting information useful for decision-making are :

Multiple choice question

The primary qualities that make accounting information useful for decision-making are :

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