Accounting · Accounting Principles and Concepts
Match the following accounting concepts with their respective core meanings/implications: (i) Money measurement concept — (a) Capital of the proprietor is considered as a liability. (ii) Business entity concept — (b) Fixed assets are valued on a cost basis rather than market values. (iii) Going concern concept — (c) Changes in purchasing power are ignored and only monetary transactions are recorded.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1(i) - (a), (ii) - (b), (iii) - (c)
- 2(i) - (c), (ii) - (b), (iii) - (a)
- 3(i) - (b), (ii) - (a), (iii) - (c)
- 4(i) - (c), (ii) - (a), (iii) - (b)✓
Correct answer
(i) - (c), (ii) - (a), (iii) - (b)
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Accounting Principles and Concepts MCQs →Want more practice questions on Accounting Principles and Concepts?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Accounting Principles and Concepts