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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
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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.
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संबंधित प्रश्न
Explain the Business Entity Concept.
Accounting principles are necessary due to which of the following reasons?
According to this concept, a business firm is treated as a unit separate and distinct from its owners.
According to Business Entity Concept:
Name the basic principles of accounting.
Accounts should disclose all material information (with reference to the concept of accounting). Justify either for or against by giving two reasons.
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.
Explain the money measurement principle of accounting.
Write short note on the going concern concept.
