Question

1. On which principle is provision for depreciation made?
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Answer 1

Answer:

One of the main principles of accounting is the Matching Principle. It states that an income or revenue must be recognized in the same period as its matching expenses. Sometimes though the expense or revenue is not only confined to one accounting year.

Answer 2

Answer:

One of the main principles of accounting is the Matching Principle. It states that an income or revenue must be recognized in the same period as its matching expenses. Sometimes though the expense or revenue is not only confined to one accounting year.