Consistency concept
Once a business chooses to use a specific accounting method, it should continue using it on a go-forward basis. By doing so, financial statements prepared in multiple periods can be reliably compared.
Related Post
TS Grewal Class 11 Solutions 2021TS Grewal Class 11 Solutions 2021
TS Grewal class 11 solutions 2021 Touch4career.com is an initiative by CCC The Learning Destination. We provide students a platform where they could study with a comfortable environment and develop
MCQ Theory for Term IMCQ Theory for Term I
We are providing you some basic and important concepts of all the chapters that are based on your Important MCQ Theory for Term-I exam | 2021-22 pattern with latest MCQs
Objectivity ConceptObjectivity Concept
According to this concept all accounting transactions should be evidenced and supported by objective documents like vouchers, bills, letters, Pay-in-Slips, Receipts, invoices etc. This ensures transaction being recorded are free