CUET Accountancy - Which of the following is not the nature of financial statements- | PYQs + Solutions

CUET Accountancy 2025 31 May Shift 1

Financial Statements

Easy

Financial Statements

The original cost or historical cost is the basis of recording transactions.

It cannot be expressed in monetary terms.

Certain accounting conventions are followed while preparing financial statements.

Financial statements are prepared on certain basic assumptions

✅ Correct Option: 2

Related questions:

24 May Shift 1

Match List-I with List-II

List-I	List-II
Expenses incurred to earn the income	Explanation
(A). Purchase of Stock-in-trade	(I). Expenses towards interest charges during the year on the borrowings
(B). Employees benefit expenses	(II). Diminution in the value of fixed assets
(C). Finance cost	(III). Purchases of goods for the purpose of trading
(D). Depreciation	(IV). Expenses incurred on employees towards salary, wages, leave encashment, staff welfare, etc

Choose the correct answer from the options given below:

26 May Shift 2

An annual report is issued by a company to its --------------.

13 May Shift 1

Current liabilities does not include:

CUET Accountancy 2025 31 May Shift 1 PYQs