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प्रश्न
Name any four concepts of GAAP.
टीपा लिहा
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उत्तर
Four concepts of GAAP are as follows:
- The Business Entity Concept
- The Going Concern Concept
- The Money Measurement Concept
- The Accounting Period Concept
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Generally Accepted Accounting Principles (GAAP)
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संबंधित प्रश्न
Explain the concept of The Dual Aspect Principle.
GAAP stands for ______.
This principle suggests that every debit has a corresponding and equal credit.
According to Business Entity Concept:
Accounts should disclose all material information (with reference to the concept of accounting). Justify either for or against by giving two reasons.
Every transaction has two effects. (with reference to the concept of Accounting). Give a reason either for or against.
Explain 'Matching Concept' of GAAP.
Explain Accounting Period Concept.
Explain the revenue principle.
Explain the expense principle.
