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  • Theory Questions - AFM - IBS Powai

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    Pranil Verma
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    This document contains 20 accounting theory questions that will be covered on a mid term exam for a course on accounting for managers. The questions cover fundamental accounting concepts like the business entity, going concern, and cost concepts as well as accounting policies like revenue recognition, depreciation methods, inventory valuation techniques including FIFO, LIFO, and weighted average cost.

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    This document contains 20 accounting theory questions that will be covered on a mid term exam for a course on accounting for managers. The questions cover fundamental accounting concepts like the business entity, going concern, and cost concepts as well as accounting policies like revenue recognition, depreciation methods, inventory valuation techniques including FIFO, LIFO, and weighted average cost.

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    7 views1 page

    Theory Questions - AFM - IBS Powai

    Uploaded by

    Pranil Verma
    This document contains 20 accounting theory questions that will be covered on a mid term exam for a course on accounting for managers. The questions cover fundamental accounting concepts like the business entity, going concern, and cost concepts as well as accounting policies like revenue recognition, depreciation methods, inventory valuation techniques including FIFO, LIFO, and weighted average cost.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Theory Questions – Accounting for Managers

    Mid Term

    1. Business Entity Concept


    2. Going Concern Concept
    3. Cost Concept
    4. Money Measurement Concept
    5. Duality or Double Entry Concept
    6. Accounting Period Concept
    7. Matching Concept
    8. Conservatism Concept
    9. Consistency Concept
    10.Materiality Concept
    11.Realization Concept
    12.Meaning of Accounting Concept
    13.Difference between Cash & Accrual System
    14.Revenue Recognition
    15.Why Accounting Conventions & Principles are necessary
    16.Uses of Financial Statements
    17.Meaning of Depreciation
    18.Difference between SLM & WDV
    19.Why is Valuation of Stock required?
    20.Explain 3 methods of Stock Valuation – FIFO, LIFO, WAM

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