other govt exam FCI Assistant Grade 3 (AG III) Phase I & II Mock Test Accounting and Auditing Basic accounting principles
Which statement among the following is true?
1
Accounting is a social science.
2
Economic life of an enterprise is artificially split into periodic intervals in accordance with the Going Concern Assumption.
3
The assets are classified as current assets and fixed assets in accordance with Accounting Period Assumption.
4
Revenue is generally recognized at the point of sales in accordance with the matching principle.
5
All of the above statements are true.