Which of the following concept stipulates that accounting profit is the difference between revenue and expenses?

Emmanuel isu

11 years ago

Yes,bcos accrual concept states dat 4 a business man 2 knw his or her financial position, he should tak into account all rvenues due or recive, dat all amount of money recieved & n paid either at dat point in wich d transaction tuk place an also d ones wich was not paid or recieved at dat point