CA Foundation · Principles and Practice of Accounting
Accounting Concepts
10 practice questions, each with the answer and an explanation.
Practise Accounting Concepts now
Random questions from this topic, one at a time. You see the answer and the explanation straight after each one.
All 10 questions
- Under the cost concept, an asset is recorded at its
- Goods taken by the proprietor for personal use are recorded by debiting
- Which of these is a capital expenditure?
- Under which concept is the business treated as separate from its owner?
- According to the dual aspect concept, every transaction has
- Which accounting concept assumes that a business will continue to operate for the foreseeable future?
- Which account is a nominal account?
- The matching concept requires that
- What is the rule for a real account?
- Which error will not affect the agreement of a trial balance?
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