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Q. Historical cost concept requires the valuation of an asset at

Q. An accounting that deals with the accounting and reporting of information to management regarding the detail information is

Q. The transferring of debit and credit items from journal to the respective accounts in the ledger is called as

Q. The assets that can be easily converted into cash within a short period, i.e., 1 year or less are known as

Q. The nature of financial accounting is:

Q. Profit and loss is calculated at the stage of

Q. Business enterprise is separate from its owner according to _____ concept.

Q. Small items like, pencils, pens, files, etc. are written off within a year according to _____ concept.

Q. Debit the receiver & credit the giver is _____ account.

Q. The comparison of financial statement of one year with that of another is possible only when ------------- ---concept is followed