Question
Due to which concept, accounting does not record
non-financial transactions?Solution
Accounting does not record non-financial transactions because of the money measurement concept . This concept states that only transactions that can be expressed in monetary terms can be recorded in the accounting records. Non-financial transactions, such as the appointment of a new manager or the development of a new product, cannot be expressed in monetary terms and therefore are not recorded in the accounting records.
M and N started a business by investing Rs.4000 and Rs.5000 respectively. After 8 months, M and N increased their investments by 25% and Rs.2000 respect...
A, B and C invested in partnership. A invest Rs.8000 for 6 months, B invests Rs.6000 for 4 months and C invests Rs.12000 for 3 months. C is working part...
A, B, and C invested Rs. 3600, Rs. 2400, and Rs. x, respectively, in a business for equal time. If the profit received by C is Rs. 1200 out of a total p...
Sunil and Manoj started a business by investing Rs. 70,000 and Rs. 1,20,000, respectively. Manoj withdraws his investment after some time. If at the end...
Sneha invested Rs. A and Leena invested Rs. (A + 25) for 18 months and 15 months respectively. Their profit ratio is 9:10. Find Leena’s investment.
P and Q invested in a partnership with Rs.400 and Rs.700 respectively. After 4 months Q added Rs. 'x' more. If at the end of the year profit share of P ...
Akshay and Akhil invest in a business in the ratio 4:1. If 10% of the total profit goes to charity and Akshay's share is Rs. 864.Then find the total pro...
A and B started a business with investments in the ratio of 6:7 respectively. If after one year, the profit earned by A is Rs. 3000, then find the total...
A invest twice the sum invested by B and withdraws half of sum after 3 months and again withdraws half of the remaining sum after 5 months. Find ratio o...
Ravi, Sohan, and Meera started a business with initial investments in the ratio 4:6:9 respectively. After one year, Meera, Ravi, and Sohan made addition...