Question

during the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept give me one word answer

Answer 1

During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept is the Accounting Period.

An accounting period can be defined as the span of time which is covered by a set of financial statements.

It is helpful for the investors as it helps them to compare the results of successive time periods.

Answer 2

Answer:

periodicity concept......