Question

29. Deepti wants to buy a building for her
business today. Which of the following is the
relevant data for his decision?
a. Similar business acquired the required
building in 2000 for '10,00,000
b. Building cost details of 2003
c. Building cost details of 1998
d. Similar building cost in August, 2005
25,00,000
30. Which is the last step of accounting as a
process of information?.
a. Recording of data in the books of accounts
b. Preparation of summaries in the form of
financial statements
c. Communication of information
d. Analysis and interpretation of information
31. Which qualitative characteristics of
accounting information is reflected when
accounting information is clearly presented?
a. Understandability
b. Relevance
c. Comparability
d. Reliability
32. Use of common unit of measurement and
common format of reporting promotes;
a. Comparability
b. Understandability
c. Relevance
d. Reliability​

Answer 1

30. This is the information which in identifying the historical cost of the building and now the price can be compared in present context.

31. Comparibility

32.Relevance