Write a note on error of principle by giving an example.

1.	Write a note on error of principle by giving an example.
Answer» It means the mistake committed in the application of fundamental accounting principles in recording a transaction in the books of accounts. Example: Entering the purchase of an asset in the purchases book. Machinery purchased on credit for Rs. 10,000 by M/s. Anbarasi garments manufacturing company entered in the purchases book.

Answer»

It means the mistake committed in the application of fundamental accounting principles in recording a transaction in the books of accounts.

Example:

Entering the purchase of an asset in the purchases book. Machinery purchased on credit for Rs. 10,000 by M/s. Anbarasi garments manufacturing company entered in the purchases book.

Discussion

No Comment Found

Related InterviewSolutions

What were the two main occupations of the Rig Vedic Aryans?
Name the two political institutions which exercised check on the powers of the King in the Rig Vedic period.
What w’as the position of women in the Rig Vedic age ?
Describe the social life of the Rig Vedic Aryans with reference to the following: (a) The Family Structure (b) Position of Women (c) Varna System
With reference to the following explain the main features of the Rig Vedic Economy: (a) Agriculture (b) Domestication of Animals (c) Trade Transactions, Crafts and Transportation
Mention any two archaeological sources to reconstruct the later Vedic Age.
Mention any two of the Ashrams in the life of a man in Aryan society.
What information do we gather from the later Vedic literature in respect of: (a) Spread of Vedic Civilization to many New Regions. (b) Role of Iron in later Vedic Economy.
Mention briefly the rituals and sacrifices of the later Vedic Aryans?
What is the message of the Bhagavad Gita?

Write a note on error of principle by giving an example.

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment