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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.
Justify the following statement either for or against by giving two reasons.
Accounts should disclose all material information,
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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.
संबंधित प्रश्न
According to the ______ Principle of accounting, transactions are recorded on the assumption that the business will exist for an indefinite period of time.
Explain the need for GAAP for accounting.
The retirement of manager of the company cannot be recorded in the book of accounts, because it is not possible to estimate the financial effect of retirement. Which accounting principle would be applicable for the above statement?
Explain the concept of The Dual Aspect Principle.
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.
What is meant by going concern concept of Accounting.
Explain Matching Concept of GAAP.
Explain matching principle of accounting.
Explain the realisation principle.
