A trader has included rent which is due but not paid in his Profit and Loss Account.
Question:
A trader has included rent which is due but not paid in his Profit and Loss Account. Which accounting concept has been applied?
A. Historic cost
B. Matching
C. Money measurement
D. Prudence
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D Prudence Explanation The accounting concept of prudence states that you should anticipate possib...View the full answer
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