Fundamentals Of Accounting And Auditing - Accounting And Auditing Section 1

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1. Which accounting concept satisfies the valuation criteria.

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2. A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him?

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3. In which of the following cases, accounting estimates are needed?

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4. Deewali advance given to an employee is

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