Accountancy, asked by seema6429, 1 year ago

Discuss the limitations which must b kept in mind while evaluating the financial statements

Answers

Answered by nishantbansal25

see the word factory /office about the expense or income

Answered by Anonymous

Dependence on historical costs. Transactions are initially recorded at their cost. This is a concern when reviewing the balance sheet, where the values of assets and liabilities may change over time.

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