Question

Discuss the arguments in favour of accounting concept of income.

Answer 1

Answer:

we should pay on time

profit and loss

Explanation:

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Answer 2

Explanation:

Advantages of Accounting Income:

(1) Accounting concept of income has the benefit of a sound, factual and objective transaction base. ... (2) Another argument in favour of historical cost-based income is that it is based on actual and factual transactions which may be verified.

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