Advertisements
Advertisements
प्रश्न
It is due to this concept that financial statements are prepared at regular intervals, generally one year.
विकल्प
Money measurement concept
Accounting period concept
Business entity concept
Realisation concept
Advertisements
उत्तर
Accounting period concept
Explanation:
The accounting period concept requires financial statements to be prepared at regular intervals, typically one year. This concept allows businesses to report their financial performance and position periodically, making it easier for stakeholders to assess the company’s progress and make informed decisions.
APPEARS IN
संबंधित प्रश्न
What does GAAP stand for in Accounting?
GAAP stands for ______.
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.
According to Business Entity Concept:
With reference to the concept of accounting only those transactions are recorded in accounts which can be expressed in terms of money. Justify either for or against.
Explain Matching Concept of GAAP.
Discuss in brief the basic principles of accounting.
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
Explain matching principle of accounting.
Explain the Dual Aspect Principle.
