Question
Economic life of an enterprise is split into the
periodic interval as per which concept?Solution
The economic life of an enterprise is split into periodic intervals as per the periodicity concept. This concept states that each accounting period has an economic activity associated with it, and that the activity can be measured, accounted for, and reported upon. The periodicity concept is important because it allows businesses to track their financial performance over time. By splitting the economic life of an enterprise into periodic intervals, businesses can identify trends, patterns, and areas for improvement.
In relation to Accounting for Investments, which of the following statements is/are correct?
Statement-1: The carrying amount for long-term inves...
As per Section 127 of the Companies Act, 2013, in relation to punishment for failure to distribute dividends, where a dividend has been declared by a co...
When an individual is unable to repay the overdraft availed from a bank, which type of risk is the bank primarily exposed to?
In Zero-Based Budgeting (ZBB), the budget for each activity is:
Which of the following pair is wrongly matched?
Which of the following account has a Credit Balance?
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Activity Ratios are meant to indicate:
The term supply includes:
According to the Companies Act, 2013, every listed company must constitute an Audit Committee. Which of the following is not a role of this committee?
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