Which of the following is not regarded as the fundamental accounting concept?
A. The going concern concept
B. The separate entity concept
C. The prudence (conservatism) concept
D. Correction concept
Answer: Option D
This Question Belongs to Commerce >> Miscellaneous In Commerce
Related Questions on Miscellaneous in Commerce
A. Expenditure for the business
B. Cost for the business
C. Gain for the business
D. None of the above
Which of these items would be accounted for as an expense?
A. Repayment of bank loan
B. Dividend to stock holders
C. The purchase of land
D. Payment of current period rent
Debit the receiver credit the giver rule for:
A. Real a/c
B. Personal a/c
C. Nominal a/c
D. None of these
Join The Discussion