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प्रश्न
This principle states that the financial statements should be prepared quickly at the end of the accounting period.
विकल्प
Materiality
Consistency
Conservatism
Timeliness
उत्तर
Timeliness
Explanation:
The timeliness principle dictates that financial statements should be prepared and made available as soon as possible after the end of the accounting period. This ensures that the information is relevant and can be used effectively by stakeholders for decision-making.
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संबंधित प्रश्न
This principle states that accounting procedures and methods should remain consistent from one year to another.
According to this principle, record all anticipated losses but ignore all anticipated gains. Industry practice.
This principle is an exception to the principle of full disclosure.
Closing stock is always valued at market price. Justify for or against by citing two reasons.
Explain the principle of materiality.
Explain the principle of Timeliness.
Name and explain the accounting convention which says record all anticipated losses but ignore all anticipated gains.
Explain the Principle of Prudence.
Explain the principle of industry practice.
Explain the accounting conventions.
