Question

1.The value of human resources is generally shown as an asset in the balance sheet 2.The economic life of an enterprise if generally split into periodic intervals in accordance with the 'Going Concern Assumption 3.'Accounting Entity' concept is not applicable to a joint stock company 4.As per ' Concept' the accountant should provide for all possible losses but





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Answer 1

The value of human resources is generally not shown in the balance sheet as per money measurement concept. Money measurement concept means only those transactions will be recorded in the books of accounts which can be measured in monetary terms.

Answer 2

Answer:

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