true

Take Class 12 Tuition from the Best Tutors

Affordable fees
1-1 or Group class
Flexible Timings
Verified Tutors

Search in

Introduction To Accounting: Part 19: Verifiable Objective Concept

Nishant Kumar

28/06/2017 0 0

The Verifiable Objective Concept holds that accounting should be free from personal bias.
Measurements that are based on verifiable evidences are regarded as objectives.
It means all accounting transactions should be evidenced and supported by business documents.
These supporting documents are:
1. Cash Memo
2. Invoices
3. Sales Bills, etc.
These supporting documents provide the basis for accounting and audit.

Audit: It is an official inspection of an organisation’s books of accounts, typically by an independent body.

0 Like 0 Dislike

Follow 0

Other Lessons for You

How to study acoountancy

Accountancy should read with concepts and great practical mindset. while doing accountancy you should always ask why to yourself if you want to more about accountancy just go for accountancy courses for class XI and class XII

Vineet Pareek

0 0

For NEET /IIT Aspirants.

A Lindlar Catalyst is a heterogeneous catalyst that consists of pd (palladium) deposited on calcium carbonate. CaCO3 is then poisoned with various forms of lead or sulphur. It is used for the hydrogenation...

Nidhi T.

0 0

14 PRINCIPLES OF MANAGEMENT BY HENRY FAYOL

Most of the students face problems in remembering the 14 PRINCIPLES OF MANAGEMENT given by SIR HENRY FAYOL. So here is the cheat sauce to remember the same. "I DECODE USSR USA" I→Intiative D→Discipline E→Equality C→Centralisation O→Order D→Division...

Siddharth Guha

0 0

Trigonometric Formulas

Important Trigonometric Formulas:

Kanchan

6 0

For IIT/NEET Aspirants Class 12 Chemistry: Positron And Beta Decay.

Beta particle is a high energy, high speed electron or positron emitted in the radioactive decay of an atomic decay of an atomic nucleus, such as a potassium - 40 nucleus. The positron or antielectron...

Nidhi T.

0 0

Find Class 12 Tuition near you

Online Tuition Class 12

Looking for Class 12 Tuition ?

Learn from Best Tutors on UrbanPro.

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you

Class 12 Tuition Questions

What is meant by Capital?

8 Answers

What is the difference between Bad debts and bad & doubtful debts. What are the legal compliances...

7 Answers

X has made the following drawings during 2014-15. Calculate interest on drawings @90% . 1.Rs. 4000 withdrawn...

20 Answers

What is matching concept in acvount?

11 Answers

difference b/w cash & cash eqivalant..

25 Answers

Looking for Class 12 Tuition Classes?

The best tutors for Class 12 Tuition Classes are on UrbanPro

Select the best Tutor
Book & Attend a Free Demo
Pay and start Learning

Take Class 12 Tuition with the Best Tutors

The best Tutors for Class 12 Tuition Classes are on UrbanPro

I am a Student I am a Tutor
Name*	Please enter your full name. Please enter institute name.
Email*	Please enter your email address.
Phone*	Please enter a valid phone number.
Location*	Please enter a pincode or area name.
City*	Please enter city name.
Category*	Please enter category.
Gender*	Male Female Please select your gender.
Email ID/ Mobile No.*	Please enter either mobile no. or email.
Enter Password*	Please enter OTP Please enter Password Sorry, this phone number is not verified, Please login with your email Id.

Introduction To Accounting: Part 19: Verifiable Objective Concept

The Verifiable Objective Concept holds that accounting should be free from personal bias.

Measurements that are based on verifiable evidences are regarded as objectives.

It means all accounting transactions should be evidenced and supported by business documents.

These supporting documents are:

Cash Memo

Invoices

Sales Bills, etc.

These supporting documents provide the basis for accounting and audit.