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UPSC EPFO: General Accounting Principles Quiz 4

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Question 1

The rule of stock valuation ‘cost price or realisable value’ whichever is lower is based on the accounting principle of:

Question 2

Accounting does not record non-financial transactions because of:

Question 3

The concept which assumes that a business will last indefinitely is

Question 4

CREDIT signifies:

Question 5

Which of the following accounts will be credited on giving cash donation:
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Jan 8Other State PSC