Question

depreciation is charged on foxed assets due to this concept, A)ful disclosure concept, B)materiality concept, C)conservatism concept, D)none of above​

Answer 1

Answer : -

• Option D

Depreciation is charged on fixed assets due to Matching concept. In this concept revenue must be equal to expense to determine correct profit or loss for the accounting period whether cash received or paid.

Some more accounting principles :

1. Accounting Entity
2. Money measurement principle
3. Accounting Period Principle
4. Full disclosure Principle
5. Materiality Principle
6. Prudence Principle