"An accountant should not anticipate profit , but must provide all losses" this concept is :

• None
• Conservation concept
• Materiality concept
• Consistency concept

Related MCQs

• During rising price which inventory method provide lowest profit
• A merchant has 1000 kg of sugar, part of which he sells at 8% profit and the rest at 18% profit. He gains 14% on the whole. The quantity sold at 18% profit is ______?
• A shopkeeper sells one-third of his goods at a profit of 10%, another one-third at a profit of 20%, and the rest at a loss of 6%.What is his overall profit percentage?
• A trader purchased two colour televisions for a total of Rs. 35000. He sold one colour television at 30% profit and the other 40% profit. Find the difference in the cost prices of the two televisions if he made an overall profit of 32%?
• The accountant took the money from the customer.
• 3 people invest 9000, 12000 and 15000 respectively. After 6 months the profit of the 3rd person is 1500 then what will be the profit of others
• X and Y invest Rs 2000 and 17500 respectively in a business at the end of the year they make a profit of 26400 what is the share of X in the profit
• Ahmed got 25 rupees profit on every article of Rs 250 then how much percentage of profit?
• Net profit is calculated after deducting which of the following from gross profit?
• Because its chief accountant altered figures and completely fabricated others, the company’s financial records were entire ___