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fill in the blanks with appropriate word s 621534

Fill in the blanks with appropriate word(s):

  1. Business income is defined as the increase in _______ measured by the excess of revenue over expenses.
  2. Revenues are a measure of _______ of assets.
  3. Expenses are a measure of _______ of assets.
  4. Net income is measured by comparing _______ _______ and _______.
  5. Business income is the net increase in _______.
  6. Revenue recognition is possible with the help of _______ concept.
  7. Unexpired costs are treated as _________.
  8. Business income also means _______ income.
  9. According to matching concept, all revenues and expenses (incurred to earn revenue) must belong to the same _______ period.
  10. Business income requires the measurement of expenses in terms of _______ cost.
  11. Business income is an _______ income.
  12. Business income is based on _______ transaction.
  13. Business income ignores unrealised _______ and _______.
  14. The doctrine of _______ states that the business will continue its operations for the foreseeable future.
  15. The accrual process aims to match _______ and _______ with a definite accounting period.

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