Question

companies must prepare financial statements at least yearly due to the _______ assumption.​

Answer 1

Answer:

Periodicity

Due to periodicity assumption the companies has to prepare and disclose the financial statement on yearly as on 31st March of the financial year

Answer 2

Answer :

Companies must prepare financial statements at least yearly due to the  Accounting Period assumption.​

Explanation :

• Due to the Accounting Period assumption, businesses must prepare financial statements at least once a year.

• Financial Statements are prepared based on certain assumptions, such as going-concern, consistency, and accrual basis, that are not needed to be disclosed and are referred to as "Accounting Assumptions".

• The financial situation of a corporation over the course of a fiscal year is shown in annual financial statements. It is critical for you to establish your company's finances and ensure that you are in compliance with tax rules.