Question

concept states that the financial records should always be published in a definite time period.

• A. Going Concern
• B. Accounting equation
• C. Accounting period
• D. Money Measurement

Answer 1

The correct option is C Accounting period

Accounting period concept states that the financial records should always be published in a definite time period. This concept requires that the life of business should be segregated into equal parts which are termed as Accounting Periods. This concept requires consistency of accounting periods.