Fill in the blanks with suitable words
- The information generated by final reports of an enterprise is generally known as __________ information.
- The two broad categories of users of the financial accounting information are __________ and __________.
- Ability of the firm to meet its long term obligations is referred to as __________.
- Ability of the firm to meet its short term obligations is referred to as __________.
- The major internal user of the accounting information is __________ of an enterprise.
- Consistency __________ the switching of accounting methods from year to year.
- Under cash basis of accounting __________ transactions are not recorded.
- Under accrual basis of accounting, revenues are recognised when they are __________.
- Under hybrid basis of accounting, revenues are recognised on __________ basis while expenses are recorded on __________ basis.
- Under accrual basis of accounting, outstanding expenses and unaccrued income will affect the Profit and Loss Account showing a __________ profit.