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प्रश्न
According to this principle, revenue is deemed to be realised when the goods have been transferred or the services have been rendered to a customer.
विकल्प
Matching principle
Principle of full disclosure
Dual aspect principle
Realisation concept
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उत्तर
Realisation concept
Explanation:
The realisation concept states that revenue is recognized and deemed to be realized when the goods have been transferred, or the services have been rendered to a customer. There is a reasonable certainty of payment. This principle ensures that revenue is recorded in the accounting period in which it is earned, not necessarily when payment is received.
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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.
GAAP stands for ______.
According to this principle, cost of a particular period should be charged from the revenue of same period only.
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Discuss in brief the basic principles of accounting.
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Explain The Dual Aspect Principle.
Explain Accounting Period Concept.
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