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प्रश्न
What is “Full Disclosure Principle” of accounting.
उत्तर
- It implies that the accounts must be prepared honestly and all material information should be disclosed in the accounting statement.
- This is important because the management is different from the owners in most organizations.
- The disclosure should be full, fair, and adequate so that the users of the financial statements can make a correct assessment of the financial position and performance of the business unit.
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संबंधित प्रश्न
The business is liable to the proprietor of the business in respect of capital introduced by the person according to ________.
The concept which assumes that a business will last indefinitely is ____________.
GAAPs are ___________
The rule of stock valuation ‘cost price or realisable value’ whichever is lower is based on the accounting principle of ________.
Briefly explain about realisation concept.
Write a brief note on ‘Consistency’ assumption.
Why should a business concern follow the matching concept?
What is the matching concept?
“Only monetary transactions are recorded in accounting”. Explain the statement.
“Business units last indefinitely”. Mention and explain the concept on which the statement is based.
