Financial statements of an entity are prepared at regular intervals in accordance with which accounting concept?

Asked by Last Modified  

1 Answer

Learn Accountancy +1

Follow 1
Answer

Please enter your answer

Priyanka Shanmugam

I am Searching for new authors ??

Accounting period concept.
Comments
Dislike Bookmark

Related Questions

What is matching concept in acvount?
Cost should match with revenue for that period
Harender
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
How many types of GST in India
Four types of GST in our India. 1.SGST 2.CGST 3.UGST 4.IGST
Subhash Chandra
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
View Comments8
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 Calculate interest on drawings @90% . 1.Rs. 4000 withdrawn by X on the first day of every month with effect from 1-5-14 for four month 2.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

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

Ask a Question

Related Lessons

Introduction To Accounting: Part 2: Book Keeping, Accounting And Accountancy
Book Keeping: Book Keeping is mainly concerned with record keeping or maintenance of books of accounts. The maintenance of books of accounts includes the following four activities: Identifying the...

Nishant Kumar

0 0
View Comments0
Bank Reconciliation Statement
In the given chapter to solve a sum we are given a cash book and another thing is bank pass book. and there is some miss match so we need to come to a conclusion that the same miss match is. We can...

Taher Sadikot

0 0
View Comments0
How to view Profit & Loss statement_1. Sales/Revenue
In financial statements, “sales” (also called revenue) is one of the most important indicators of a company’s performance. Here’s what it means and how it reflects a company’s...
N

Navya Madhuri

0 0
View Comments0
Introduction To Accounting: Part 14: Accounting Period Concept
A while ago, we studied Financial Statements. The definition of Financial Statements is reproduced here: “Financial Statements” is a summary report that shows how a Business has used the...

Nishant Kumar

0 0
View Comments0
Why Capital is considered as Internal Liability
Capital is the amount of money invested by the owner in the business. Say Reena is interested in doing a chocolate business , after sometime she has taken ₹ 40000 from her piggy bank which she collected...

Swati V.

0 0
View Comments0

Recommended Articles

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 >

Science, Arts Or Commerce - Which One To Go For?

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

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 >

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 >

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