Which accounting concept dictates the inclusion of 'provision for doubtful debts' in the financial statements?
A. Accrual concept
B. Matching concept
C. Going concern concept
D. Prudence concept
Answer: Option D
Solution(By Examveda Team)
Prudence concept dictates the inclusion of 'provision for doubtful debts' in the financial statements.This Question Belongs to Commerce >> Accounting
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Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Please explain it
Please Explain in brief.