Home
Class 11
ACCOUNTS
Which accounting principle states that ...

Which accounting principle states that all anticipated losses should be recorded but all anticipated profits should be ignored?

Text Solution

Verified by Experts

Convention of Prudence.
Promotional Banner

Topper's Solved these Questions

  • ACCOUNTING PRINCIPLES

    DK GOEL|Exercise ( C ) Choose the best Alternate|19 Videos

  • ACCOUNTING FOR GOODS AND SERVICE TAX (GST)

    DK GOEL|Exercise Problems based on missing information|3 Videos

  • ACCOUNTING SOFTWARE PACKAGE : TALLY

    DK GOEL|Exercise Multiple choice Questions:|7 Videos
DK GOEL-ACCOUNTING PRINCIPLES-HIGHER ORDER THINKING SKILLS (HOTS) QUESTIONS
  1. X Ltd. Gets a contract of ₹ 100 crore to build a Shopping-Mal to be co...

    Text Solution

    |

  2. Under which principle the calibre or quality of the management is not ...

    Text Solution

    |

  3. Which accounting principle states that all anticipated losses should ...

    Text Solution

    |

  4. According to which concept, depreciation is to be charged as per one p...

    Text Solution

    |

  5. Why the full cost of an asset is not treated as an expense in the year...

    Text Solution

    |

  6. During the year the company purchased ballpoint pens of ₹500. These we...

    Text Solution

    |

  7. A debtor who owes ₹ two lac to the Company is rumoured to be declared ...

    Text Solution

    |

  8. Goods withdrawn by the proprietor for his personal use has not been re...

    Text Solution

    |

  9. In a business provision for doubtful debts is created @5% on debtors e...

    Text Solution

    |

  10. A firms has stationery stock accounting of ₹400 as at the end of finan...

    Text Solution

    |

  11. Why closing stock is valued at cost price or realisable value whicheve...

    Text Solution

    |

  12. Do you think that the Convention of conversation results in creation o...

    Text Solution

    |

  13. Identify the value involved in the assumption of going concern.

    Text Solution

    |

  14. Why fixed assets are not shown in the books at market value?

    Text Solution

    |

  15. Why the entire life of the business enterprise is divided into time-in...

    Text Solution

    |

  16. A company purchased goods for ₹5,00,000 and sold 80% of such goods dur...

    Text Solution

    |

  17. On 25th March, 2017, a fire broke out in the premises of Kamal Ltd. An...

    Text Solution

    |

  18. R Ltd. Purchased 500 Sq. Metre Land for ₹1.5 crore to build a factory....

    Text Solution

    |

  19. Raja Ltd. Purchased securities for ₹50 lakh. At the end of the year, t...

    Text Solution

    |

  20. A company has been charging depreciation @ 10% p.a. on original cost m...

    Text Solution

    |