Match the LIST-I with LIST-II
|
LIST - I (Accounting Concept & Convention) |
LIST - II (Meaning) |
||
|
A. |
Conservatism |
I. |
Use of same accounting policies by a firm from period to period |
|
B. |
Dual aspect |
II. |
Enterprise is treated as separate from owner and other persons associated with it |
|
C. |
Separate Business entity |
III. |
Every transaction has a two-fold effect |
|
D. |
Consistency |
IV. |
Anticipate no profit, but IV. provide for all possible losses |
Choose the correct answer from the options given below:
1
A - IV, B - III, C - II, D - I
2
A - I, B - II, C - III, D - IV
3
A - II, B - III, C - I, D - IV
4
A - III, B - IV, C - I, D - II