Which of the following accounting concept eliminates personal biasedne
Right Answer is: D
• Accounting period-It is the span of span of time period covered by a Financial Statement.
• Dual Aspect- This Accounting Concept is based on double entry system of book keeping which means that each transaction is recorded into two separate
accounts. Assets= capital + Liabilities
• Cost- This Accounting Concept is based on the premises that Assets should be always recorded at their cost price.
• Consistency– This accounting concept eliminates personal biasedness and helps in achieving results that are comparable.