question 1 explain the five accounting concepts, Financial Accounting

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question 1 explain the five accounting concepts

Question 1 Explain the five accounting concepts with an example

Separate entity concept
Going concern concept
Money measurement concept
Cost concept
Dual aspect concept

Question 2 What steps are involved in the productivity factor based valuation?

Question 3 List the various methods of determining goodwill

Question 4 State the manner of rendering accounting entries for ‘liquidation expenses'in case of a vendor company. LT Ltd.went into liquidation with the following liabilities

Secured creditors    - Rs 40,000(Securities realised Rs 50,000)
Preferential creditors         - 1200
Unsecured creditors          - 61000
Liquidation expenses         - 500

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