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प्रश्न
It is due to this concept that financial statements are prepared at regular intervals, generally one year.
विकल्प
Money measurement concept
Accounting period concept
Business entity concept
Realisation concept
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
Explain the Money Measurement Concept.
Explain the need for GAAP for accounting.
Explain the concept of The Dual Aspect Principle.
Define the term GAAP.
With reference to the concept of accounting only those transactions are recorded in accounts which can be expressed in terms of money. Justify either for or against.
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
Explain any two basic concepts of accounting.
Explain the revenue principle.
Explain the expense principle.
"The principle of full disclosure and principle of materiality are contradictory." Comment.
