Download App

Theory Base of Accounting — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountTheory Base of Accounting1 Mark
Question
Explain Accounting Period Concept.
✓

Answer

According to the Accounting Period Concept, life of the business is broken into smaller periods (one year) so that its performance is measured at regular intervals.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Theory Base of Accounting→Theory Base of Accounting — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What is cost concept?
→
What are the objectives of Ind-AS? (Any two)
→
What are Capital Reserves?
→
Define Book Keeping.
→
What is the rule for Liability Account?
→
Give one advantage of maintaining a Cash Book.
→
X draws a bill on Y for ₹ 60,000 for mutual accomodation. X discounted the bill for ₹ 57,000 and remitted ₹ 19,000 to Y. What amount will be sent by X to Y' on due date?
→
A firm has received a large order to supply the goods. Will it be recorded in the books?
→
Received a cheque from Maruti for ₹ 1,10,580 after deduction of 3% cash discount. The cheque was sent for collection and was dishonoured by the bank. How will you record the dishonour of cheque? Which values are not followed in this case?
→
Give the full form of CGST.
→