Question

ORGANISATIONS
1. On the basis of the information given below, calculate the amount of stationery to be
debited to the Income and Expenditure Account of Good Health Sports Club for the year
ended 31st March, 2018:
31st March
2018 (3)
Particulars
1st April,
2017 )
Stock of Stationery
Creditors for Stationery
8,000
9,000
Stationery purchased during the year ended 31st March, 2018 was 47,000,
6,000
11,000
Callif​

Answer 1

Accounting standards ensures the consistency and comparability of financial statement". ... Financial statements of one accounting period must be comparable to another in order for the users to derive meaningful conclusions about the trends in an entity's financial performance and position over time.