The e Stauestho expenses nave 8usure asses ncu ash lanal aun

The e Stauestho expenses nave 8usure asses ncu ash, lanal, aund a liabltu 2[8

Solution

Answer : first answer is : false

Expenses recognition principal states that expenses to be recognised in the same period to which it relates to

Second one answer is: true

Treasury stock is a contra stockholders equity as it reflects the difference between number of shares issued and number of shares outstanding

Third one answer is : false

Assets includes cash and land , accounts payable is a liability

Fourth one answer is : true

The word payable always signifies a liability

Fifth one answer is : true

Another name for continuity assumption is going concern assumption. Enterprises is viewed as a going concern that is continuing operations for the foreseeable future,