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.
Sale of Rs.50,000 to ‘A’ was entered as a sale to ‘B’. This is an example of –Â
Which among the following can be considered as a part of the Secondary Market?
________________ is authorised to issue and encash the electoral bonds, which are valid for fifteen days from the date of issuance.
Local currency account maintained by a local bank for a foreign (correspondent) bank is called-
Which of the following statement is NOT correct -
RBI recently imposed several restrictions on Indian Mercantile Cooperative Bank Ltd. including a cap of Rs 1 lakh on withdrawals. The Indian Mercantile ...
Which of the following is a ratio used to know the solvency of a business?
Goods and Services Tax in India is a tax based on which criteria?
The 2024-2025 cycle of the global AI Safety Summit (AI Seoul Summit) was hosted in which country?
The process by which market participants try to find an equilibrium price?Â
Relevant for Exams:
