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.
\(\begin{array}{c|c} & ₦ \\ \hline \text{Balance as per cash book} & 18,000\\ \text{Dishon...
Apart from the common control accounts, a control account can also be opened for? ...
Use the following information to answer the question given \(\begin{array}{c|c} \text{Jan. 1} &...
The document which contains the internal regulations of a limited liability company is the ...
Which of the following is a source of the local government Revenue? ...
Resources owned and controlled by a business are classified as ...
Which of the following is found in a Sales Ledger Account? ...
Use the following information to answer the given question MANUFACTURING AND TRADING ACCOUNTS ...
Use the following information to answer the given question MANUFACTURING AND TRADING ACCOUNTS ...