explain any 5 concepts of accounting.
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Explanation:
It implies recording of revenues and expenses of a particular accounting period, whether they are received/paid in cash or not. 9. Period Matching of Cost and Revenue Concept: ... Income (profit) earned by the business during a period is compared with the expenditure incurred to earn the revenue.
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Answer:
Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Duality Aspect concept, Realisation Concept, Accrual Concept and Matching Concept.
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