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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
What does GAAP stand for in Accounting?
Define the term GAAP.
On the basis of this concept, only those transactions are recorded in accounts which can be expressed in terms of money.
According to this principle, cost of a particular period should be charged from the revenue of same period only.
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.
The capital provided by the owner is a liability of the firm. Answer with reference to the concept of Accounting.
Discuss in brief the basic principles of accounting.
Explain the money measurement principle of accounting.
Explain the revenue principle.
