Police Recruitment Exams - Sub-Inspector & Constable (State Police & Delhi Police)

Hindi Grammar & Vocabulary (Samanya Hindi) question bank (General Hindi & Regional Language)

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Q1.
[General Accounting Principles - Recruitment Question #2] Which fundamental accounting concept stipulates that revenue must be recognized in the accounting period in which it is earned, regardless of when cash is received?

(A)
Cost Historical Concept
(B)
Cash Basis Concept
(C)
Accrual Concept / Revenue Realization Principle
(D)
Conservatism / Prudence Concept
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Q2.
[General Accounting Principles - Recruitment Question #4] Which fundamental accounting concept stipulates that revenue must be recognized in the accounting period in which it is earned, regardless of when cash is received?

(A)
Conservatism / Prudence Concept
(B)
Accrual Concept / Revenue Realization Principle
(C)
Cash Basis Concept
(D)
Cost Historical Concept
Show answer & solution
Verified Answer & Solution Locked
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