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प्रश्न
It is due to this concept that financial statements are prepared at regular intervals, generally one year.
पर्याय
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?
Explain the Money Measurement Concept.
Explain the concept of The Dual Aspect Principle.
Accounting principles are necessary due to which of the following reasons?
According to this principle, cost of a particular period should be charged from the revenue of same period only.
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.
According to Business Entity Concept:
Explain the money measurement principle of accounting.
Explain the Dual Aspect Principle.
Explain the complete disclosure principle.
