Accounts - Principles of Accounts Past Questions and Answers

Specific principles, bases, conventions, rules and practices adopted by an enterprise in preparing and presenting financial statements are known as ---------------------

Which of the following cannot be realized?

Use the following information to answer this question.
Club building 400,000
Subscription prepaid 3,000
Sport kits 150,000
Bar creditors 85,000
Subscription owing 32,000
What is the club’s total liabilities

Accounting information is used by investors and creditors of a company to predict

Which of the following is not a feature of accounting information?