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प्रश्न
According to this principle, cost of a particular period should be charged from the revenue of same period only.
पर्याय
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
Define the term GAAP.
GAAP stands for ______.
This concept assumes that the business will continue to exist for a long time in the future.
According to this principle, accounts should be prepared in such a way that all the material information required by users of financial statements is clearly disclosed.
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.
Explain the money measurement principle of accounting.
Explain matching principle of accounting.
Write short note on the going concern concept.
Explain the complete disclosure principle.
Explain the principle of consistency.
