Accounting to which concept, all expenses incurred to earn revenue of a particular period should be charged against that revenue to determine the net income?

Asked by Pranav 02/02/2018 Last Modified 09/10/2025

2 Answers

Learn Accountancy +1

Follow 3

Answer

Related Questions

What do you mean by principal of conservatism in accountancy?

The conservatism concept is a concept in accounting which refers to the idea that expenses and liabilities should be recognised as soon as possible in a situation where there is uncertainty about the possible...

Akash

0 0

Which statement is prepared to know the profitability of the business?

Profitability of a business entity can be estimated through trading p&l account. Where trading account states the gross profit and p&l account states the net profit earned by the entity.

Sumit

0 0

What are the two government plans for school students?

1.Educational loan for higher education. 2. Compulsory education for all under the age 6 - 14 years 3.state and central government's scholarship scheme etc.

Rajkmar

0 0

What will be the effect of change in income on giffin goods and normal goods ?

Giffen goods are a special kind of inferior products in which demand increases when price increases. But in the case of income changes, there's an inverse relationship between market and income. With an...

Suneha Sharma

0 2

X has made the following drawings during 2014-15. Calculate interest on drawings @90% . 1.Rs. 4000 withdrawn by X on the first day of every month with effect from 1-5-14 for four month 2. From September 2014 he withdraw RS 6000 pm in the middle for each month till December 3. On 1-2-15 he, withdrew RS 10000 4. On 31-3-15 he withdraw RS 5000.

Yes, the interest rest must be 9% to achieve the correct answer,. May be a typing mistake.

Shilpi

0 0

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Rules of Journalizing

Personal a/c : " Debit the receiver, Credit the giver." Real a/c : " Debit what comes in, Credit what goes out." Nominal a/c : " Debit all expenses & losses, Credit all incomes & gains."

Sadiya G.

0 0

Learn basic tip for doing entry

Pawan

0 0

Language and Logic of Accounts

Shashi Shankar

0 0

GOLDEN RULES OF ACCOUNTING

Rules of debit and credit 1. Personal accounts : Debit the receiver & Credit the giver (supplier)2. Real accounts : Debit what comes in & Credit what goes out3. Nominal accounts : Debit expenses and losses & Credit incomes and gains

Dr. Sanjay Hiran

0 0

Correcting Mistakes in Accounting Entries

Shashi Shankar

0 0

Recommended Articles

5 Engaging Activities For Children To Get...

Learning for every child starts from a very young age. While the formal methods include school curriculums and private lessons, the informal methods include dancing, music, drawing, and various fun-filling activities. Playing games and practising these types of activities helps the children get out of boredom and...

Read full article >

How To Choose The Right School For Children?

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

6 Exam Hall Tips To Follow, For Every Good Student

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

The Trend of E-learning and it’s Benefits

E-learning is not just about delivering lessons online. It has a much broader scope that goes beyond manual paper or PowerPoint Presentations. To understand the reach of E-learning and how the whole process works in developing the Educational system, we will discuss a few points here. Let us find out how this new learning...

Read full article >

Find Class 11 Tuition near you

Class 11 Tuition in Delhi

Class 11 Tuition in Bangalore

Class 11 Tuition in Hyderabad

Class 11 Tuition in Kolkata

Class 11 Tuition in Mumbai

Class 11 Tuition in Chennai

Class 11 Tuition in Pune

Class 11 Tuition in Gurgaon

Class 11 Tuition in Noida

Class 11 Tuition in Jaipur

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you

I am a Student I am a Tutor
Name*	Please enter your full name. Please enter institute name.
Email*	Please enter your email address.
Phone*	Please enter a valid phone number.
Location*	Please enter a pincode or area name.
City*	Please enter city name.
Category*	Please enter category.
Gender*	Male Female Please select your gender.
Email ID/ Mobile No.*	Please enter either mobile no. or email.
Enter Password*	Please enter OTP Please enter Password Sorry, this phone number is not verified, Please login with your email Id.

Accounting to which concept, all expenses incurred to earn revenue of a particular period should be charged against that revenue to determine the net income?

Looking for Class 11 Tuition Classes?

Take Class 11 Tuition with the Best Tutors