58. Profit & Loss account is prepared for a period of one year by following A.Periodicity concept B.Business entity concept c.Accrual concept D.None of the above
58. Profit & Loss account is prepared for a period of one year by following A.Periodicity concept B.Business entity concept c.Accrual concept D.None of the above
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 1MC: The cumulative effect of an accounting change should generally be reported as an adjustment to the...
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58. Profit & Loss account is prepared for a period of one year by following
A.Periodicity concept
B.Business entity concept
c.Accrual concept
D.None of the above
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