Teaching BPSC 4.0 बिहार उच्च माध्यमिक शिक्षक भर्ती (PGT) Mock Test Accounting and Auditing Basic accounting principles
A firm purchases a piece of land after making full payment to the seller. However, the legal formalities are yet to be completed. According to which principle does the firm record the transaction in its books of accounts though the legal formalities are NOT completed?
1
Completeness
2
Neutrality
3
Faithful representation
4
Substance over form
5
None of the above