Home  >  Class 11 Accountancy  >  Principles Of Accounting (MCQs)

Production of a factory had to stop for a week due to a labour strike. The owner estimated the loss of production and the likely loss of profit arising out of the situation. He directed the accountant to record the loss in the books of accounts. The accountant did not agree. Which principle directed him?

🎲 Try a Random Question  |  Total Questions in Quiz: 20  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
Principles Of Accounting (MCQs) — practice the complete quiz, review flashcards, or try a random question.
🧠 Flashcards (fast review) 🧪 Practice Quiz ⚔️ Challenge a Friend 🥊 📊 View Stats

Production of a factory had to stop for a week due to a labour strike. The owner estimated the loss of production and the likely loss of profit arising out of the situation. He directed the accountant to record the loss in the books of accounts. The accountant did not agree. Which principle directed him?






ADVERTISEMENT
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.