Advertisements
Advertisements
प्रश्न
What is the matching concept?
उत्तर
According to this concept, revenues during an accounting period are matched with expenses incurred during that period to earn the revenue during that period. This concept is based on the accrual concept and periodicity concept. Periodicity concept fixes the time frame for measuring performance and determining financial status. All expenses paid during the period are not considered, but only the expenses related to the accounting period are considered.
APPEARS IN
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.
What is “Full Disclosure Principle” of accounting.
Write a brief note on ‘Consistency’ assumption.
Why should a business concern follow 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.
