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प्रश्न
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?
पर्याय
The Going Concern Concept
The Business Entity Concept
Money Measurement Concept
The Dual Aspect Concept
उत्तर
Money Measurement Concept
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संबंधित प्रश्न
This concept assumes that the business will continue to exist for a long time in the future.
According to this principle, accounts should be prepared in such a way that all the material information required by users of financial statements is clearly disclosed.
According to this principle, cost of a particular period should be charged from the revenue of same period only.
What is business entity concept of accounting?
What is meant by going concern concept of Accounting.
Discuss in brief the basic principles of accounting.
Explain any two basic concepts of accounting.
Explain matching principle of accounting.
Explain the expense principle.
"The principle of full disclosure and principle of materiality are contradictory." Comment.
