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प्रश्न
According to this principle, cost of a particular period should be charged from the revenue of same period only.
विकल्प
Matching principle
Principle of full disclosure
Dual aspect principle
Realisation concept
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उत्तर
Matching principle
Explanation:
The matching principle states that expenses should be recorded and matched with the revenues of the same period in which they were incurred. This principle ensures that income statements reflect the true profitability of a period by aligning the costs associated with generating revenue with the revenue itself.
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संबंधित प्रश्न
According to the ______ Principle of accounting, transactions are recorded on the assumption that the business will exist for an indefinite period of time.
Define the term GAAP.
This principle suggests that every debit has a corresponding and equal credit.
What is meant by going concern concept of Accounting.
"Accounting records serve as a source of information to the creditors of an organisation". Comment.
Explain The Dual Aspect Principle.
Why are Generally Accepted Accounting Principles (GAAP) needed?
Explain the complete disclosure principle.
Explain the realisation principle.
Name any four concepts of GAAP.
