Question
Which accounting principle states that revenue should be
recognized when it is earned, regardless of when cash is received?Solution
Explanation: â˘The Accrual Principle recognizes revenue when earned and expenses when incurred, regardless of cash flow. â˘It ensures that financial statements reflect the actual financial position.
The other name of âSwaraj Islandâ is ________.
Which of the following can be the reasons behind the number of earthquakes in Delhi in recent times?
1. Closeness to main boundary thrust faul...
Arrange the following Islands of Andaman and Nicobar from North to South:
1. Little Andaman
2. Car Nicobar
3. South Andaman
...
Match the Following Revolutions to their respective Agricultural Productions:
Revolution Productions
(i). Green Revolution (A) Fertilize...
Consider the following statements with reference to the Peninsular block of India:
1. The Thar Desert is part of the Peninsular block.
2. ...
Shimla, Ranikhet, Lansdowne, Mussoorie are the major hill stations lying in
Arrange the following mountain ranges from North to South.
1. Vindhya Range
2. Ajanta range
3. Satpura range
4. Nal...
The term "Escrow account" generally refers to:
A state in India has the following characteristics:
1. Its northern part is arid and semi-arid.
2. Its central part produces cotton. ...
Consider the following statements:
1. In an antecedent drainage pattern, the river cuts through uplifted portions of land.
2. In a superim...
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