For the following questions answer them individually
According to the ____ concept of accounting, the life of the business is divided into appropriate segments for studying the results shown by the business after each segment.
On account of ____ convention, the inventory is valued ‘at cost or market price whichever is less’.
If the net sales are Rs.35,000, Net Purchases Rs.25,000 and the Closing Stock is Rs.5,000, what will be the amount of Gross Profit?
Under ____ method of Inventory valuation, the issues of materials are made at the price of materials or goods which have been ordered but not yet received.
_____ system of depreciation is followed in case of those assets which are of small values or where the life of the asset cannot be ascertained with certainty.
If a machine (having a scrap value of Rs.1,000) is purchased for Rs.10,000 and it has an effective life of 10 years of 1000 hours each, what will be the amount of depreciation per hour?
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