The basis upon which assets of an organization is valued ...
The basis upon which assets of an organization is valued is the
Historical concept
Business entity concept
Periodicity concept
Materiality concept
Correct answer is A
The historical cost concept (also known as cost principle of accounting) states that the assets and liabilities of a business should be presented in accounting records at their historical cost.
Accounting information seeks to provide ...
The balance on a purchase ledger control account represents the? ...
Which of the following brings a company into legal existence? ...
In manufacturing account, depreciation of office machine is charged to ...
Use the following information, \(\begin{array}{c|c} & Le\\ \hline \text{Sales} & 183,40...
Tei Ltd offered 1,560 units of magazines at N60 each. Trade discount is 10% and cash discount ...
In analyzing incomplete records, which of the following should be investigated? ...
Which of the following bases of accounting does not make allowance for depreciation? ...