Q497
Match the items in Column-I with the items in Column-2 Column-1 Column-2 a. Materiality concept 1. The same accounting method used by a firm from one period to another b. Going Concern concept 2. An inappropriate assumption of a firm being bankrupt c. Historical Cost concept 3. A normal basis used for accounting assets d. Consistency concept 4. Relates to the importance of an item or event
Match the items in Column-I with the items in Column-2
| Column-1 | Column-2 |
| a. Materiality concept | 1. The same accounting method used by a firm from one period to another |
| b. Going Concern concept | 2. An inappropriate assumption of a firm being bankrupt |
| c. Historical Cost concept | 3. A normal basis used for accounting assets |
| d. Consistency concept | 4. Relates to the importance of an item or event |
A.
a-4, b-2, c-3, d-1
AnswerB.
a-1, b-2, c-3, d-4
C.
a-2, b-3, c-4, d-1
D.
a-4, b-2, c-1, d-3
Answer: Option A
Solution
Answer: Option A
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