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📖 generic · CBSE Class 11 English medium · ACCOUNTANCY · Page 40

liability or expected loss in future. However, retention of profits in the form of

Chapter 7: Depreciation, Provisions and Reserves · ACCOUNTANCY

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atching principle requires that the revenue of→a given period is matched against the expenses→for the same period. This ensures ascertainment of→the correct amount of profit or loss. If some cost is→incurred whose benefit extend to more than one→

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    liability or expected loss in future. However, retention of profits in the form of — ACCOUNTANCY, CBSE Class 11 English medium | Examozhi | Examozhi