11th sep Accountancy cbse 11th

Which of the following transactions can be recorded under the Money Measurement Concept?

• Value of the company’s brand

• Introduction of new technology in the company

• Sale of goods worth ₹ 50,000

• Change in management team

Which of the following is NOT true regarding the Going Concern Concept?

• A company plans to continue its operations in the foreseeable future.

• The company assumes it will cease to exist soon.

• Long-term assets are depreciated over their useful life.

• Financial statements are prepared under the assumption that the company will not be liquidated.

The Accrual Concept states that:

• Income is recognised only when cash is received

• Expense are recognised only when cash is paid

• Both income and expenses are recognized when they are earned or incurred.

• Income and expenses are not recognized until the fiscal year ends.

Which of the following transactions should be recorded under the Accrual Concept?

• A company pays rent for the next month.

• An employee receives a salary payment for the current month.

• Goods are sold on credit, but payment has not yet been received.

• A supplier is paid in advance for future services.

Under the Accrual Concept, expenses are recognized:

• Only when cash is paid.

• When the obligation to pay arises, even if the payment is made later.

• At the end of the financial year.

• Only when the services or goods are actually consumed.

Which of the following is an example of the Accrual Concept?

• Recording revenue when cash is received for a sale made on credit.

• Recognizing interest income when it is earned, even if cash is not yet received.

• Recording an expense when the invoice is paid.

• Recording income only when the cash is received.