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What is accounting period assumption

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What is accounting period assumption

Posted by Sabyasachi Sahoo 4 years ago

CBSE > Class 11 > Accountancy

1 answers

Yogita Ingle 4 years ago

Accounting Period Concept: Accounting period is the timeframe at the end of which, the financial statements of a business are prepared, to evaluate its profits and losses, and to learn the status of its assets and liabilities. This is required for the smooth availability of data to the users of the accounting information in a convenient manner.

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