Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

WHAT ARE LIMITATIONS OF ACCOUNTS ?

Answer Posted / aurosnigdha bose

There r certain limitations of accounts-
1.It is based on historical cost.
2.It isn't free from personal bias.
3.it can't say the current financial position of a company.

Is This Answer Correct ?    13 Yes 2 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

How can fictitious assets be measured or valued?

2093


Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe

3865


Breif notes about accounting standards

3087


What problems might be encountered if there were no accounting standards?

3016


are there any sub-types of the 4 main types of bank accounts ?.........if yes what are they?

2466


Distinguish capital and Revenue receipts

2262


When is the profession tax applicable? Is there a liability on the employer to pay PT? What is the amt of PT in case salary exceed Rs. 10,000/- pm

2156


Rs. 23.50 ( Rupes twenty three & paise fifty only) what is euro Conversion?

2139


hi to all i have also cleared sbi exam and my interview is on 26th may 2009.can any one help to prepare for interview

2060


Dear all We have purchases the dialer & loger with all equipement for setup new call center from simens ltd. i taken to in our books as plant & machinary under fixed assets .So we want the rate of deprecation. Please answered me .

4426


What z d diff of accounting principle,accounting standard,accounting rules,accounting procedures,accounting concepts??????

2485


give the examples of Error of Duplication?and Error of compensatin? with entries

4716


Why are there 30 blue-chip companies only considered in bombay stock exchange.And why those thirty only effect the sensex

2134


Office cash was stolen? state whether the following transcation is business transcation or non business transcation?

1987


Hi Im Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Clerical post. Please help me I f u can. thanx in advance

2013