fill in the blanks with appropriate word s 621534
Fill in the blanks with appropriate word(s):
- Business income is defined as the increase in _______ measured by the excess of revenue over expenses.
- Revenues are a measure of _______ of assets.
- Expenses are a measure of _______ of assets.
- Net income is measured by comparing _______ _______ and _______.
- Business income is the net increase in _______.
- Revenue recognition is possible with the help of _______ concept.
- Unexpired costs are treated as _________.
- Business income also means _______ income.
- According to matching concept, all revenues and expenses (incurred to earn revenue) must belong to the same _______ period.
- Business income requires the measurement of expenses in terms of _______ cost.
- Business income is an _______ income.
- Business income is based on _______ transaction.
- Business income ignores unrealised _______ and _______.
- The doctrine of _______ states that the business will continue its operations for the foreseeable future.
- The accrual process aims to match _______ and _______ with a definite accounting period.