Question

Identify the 'Accounting Concepts' involved in the following:
a) Production Manager of the company is interested to reflect the good industrial relations in the
accounts.
b) Machine is recorded at cost (Rs. 50,000) while the market value is Rs. 45,000.
c) Accounts are prepared at the end of every year.
d) Same accounting methods are used year after year.​

Answer 1

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