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?
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25What do you mean by principal of conservatism in accountancy?
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1.Rs. 4000 withdrawn by X on the first day of every month with effect from 1-5-14 for four month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.
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