aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
Multiple choice

The profitability statements are prepared on the basis of

  1. going concern concept

  2. cost concept

  3. matching concept

  4. dual concept

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The expenses are matched and compared with revenue of that period i.e. matching principle is followed.

Keep practicing — related questions

  • Financial statements must contain all necessary information to meet which accounting concept?
  • The basic concept(s) related to Profit and Loss Account is/are
  • Preparing an income statement fulfills what accounting concept?
  • Consider the following statements: 1. Non-stick utensils are made of teflon, which is a polymer of polytetr...
  • Which of the above two statements define the equals and hashcode contract in JAVA? Statement -1 If two obje...
  • Directions: In the following question an incomplete statement is provided. You have to select the option wh...
  • Directions: In the following question an incomplete statement is provided. You have to select the option wh...
  • Directions: In the following question an incomplete statement is provided. You have to select the option wh...
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy