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In a business provision for doubtful deb...

In a business provision for doubtful debts is created @5% on debtors every year. Name into two accounting principles followed in this process.

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Consistency and Prudence.
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DK GOEL-ACCOUNTING PRINCIPLES-HIGHER ORDER THINKING SKILLS (HOTS) QUESTIONS
  1. According to which concept, depreciation is to be charged as per one p...

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

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

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

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 Goods withdrawn by the proprietor for his personal use has not been re...

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

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

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

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

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

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

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

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

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

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

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

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

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  18. Mohan, the owner of a business receives an order for supply of goods w...

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  19. Land and Building are shown at ₹ 10 Lac in the Balance Sheet of the bu...

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  20. Shyam purchased a building for ₹20 lakh. However, due to boom in the p...

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