Accounting · Accounting Concepts
When a company prepares its Profit and Loss Account specifically for a defined period, such as the financial year 2015-2016, which accounting concept is it primarily following?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Going concern concept
- 2Time period concept✓
- 3Duality concept
- 4Realization concept
Correct answer
Time period concept
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Accounting Concepts MCQs →Want more practice questions on Accounting Concepts?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Accounting Concepts