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प्रश्न
Accounts should disclose all material information (with reference to the concept of accounting). Justify either for or against by giving two reasons.
Accounts should disclose all material information. Give two reasons either for or against.
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उत्तर
For:
Accounts should disclose all material information. The full disclosure principle requires it. Secondly accounts are true and fair when all material information is disclosed.
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संबंधित प्रश्न
Explain the need for GAAP for accounting.
Explain the concept of The Dual Aspect Principle.
This concept assumes that the business will continue to exist for a long time in the future.
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.
Name the basic principles of accounting.
Explain 'Matching Concept' of GAAP.
Explain the money measurement principle of accounting.
Explain any two basic concepts of accounting.
Explain The Dual Aspect Principle.
Explain the principle of consistency.
