कौन सी लेखांकन अवधारणा यह आवश्यक बनाती है कि राजस्व अर्जित करने के लिए किए गए खर्चों को उसी अवधि में मान्यता दी जाए, और मुख्य रूप से लाभ और हानि खाता तैयार करने के लिए उपयोग की जाती है?

Based on a plant and equipment cost account, the original cost of an asset disposed of was $27,700. The business made a profit on disposal of $4,370 after accumulated depreciation of $6,200 was charged. How much should be included as cash proceeds in the statement of cash flows?

A business uses the FIFO method for inventory valuation. During a period of constantly rising prices, the business decides to switch to the Weighted Average Cost (AVCO) method. What is the likely effect of this change on the Gross Profit Margin and the Closing Inventory value?