Police Recruitment Exams - Sub-Inspector & Constable (State Police & Delhi Police)

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Practice 5,056 free Police Recruitment Exams - Sub-Inspector & Constable (State Police & Delhi Police) Law, Constitution & Police System (Mool Vidhi) - Indian Penal Code, CrPC & Special Laws questions with answers and step-by-step solutions.

Q1.
[General Accounting Principles - Recruitment Question #1] Which fundamental accounting concept stipulates that revenue must be recognized in the accounting period in which it is earned, regardless of when cash is received?

(A)
Conservatism / Prudence Concept
(B)
Cost Historical Concept
(C)
Cash Basis Concept
(D)
Accrual Concept / Revenue Realization Principle
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Q2.
[General Accounting Principles - Recruitment Question #2] Which fundamental accounting concept stipulates that revenue must be recognized in the accounting period in which it is earned, regardless of when cash is received?

(A)
Cost Historical Concept
(B)
Accrual Concept / Revenue Realization Principle
(C)
Conservatism / Prudence Concept
(D)
Cash Basis Concept
Show answer & solution
Verified Answer & Solution Locked
Sign in to your free student account to reveal verified answers, instant hints, and detailed explanations.
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