Explain Accounting Period Concept
Give a brief introduction of the term ‘Accounting Period Concept’?
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The imprecise period of time is separated into shorter time periods, each and every one being in the form of Accounting period, so as to make easy the preparation of financial statements on periodical base. Selection of accounting period depends on attributes such as business organization, statutory needs and so forth.
Briefly describe the term ‘Stock market indices’? Write down the name of major stock market indices?
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As per schedule XIV of Companies Act, 1956 how are the fixed assets classified to evaluate the depreciation?
Give a brief introduction of the term Convention of Materiality?
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