Abheer (student) (217 Points)
19 December 2011
Q economic life of an enterprise is split into the periodic interval as per
a) Periodicity
b) Matching
c) Goin concern
d) Accrual
the answer given in the book is (c) goin concern. but i thinks its (a) periodicity. please help me how can it be goin concern concept?
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 19 December 2011
Periodicity is part of the going concern. Going concern refers to that company is viable in the near future & does not has any plans for the curtailment of it’s business.
So as long as the above two conditions are being satisfied by the company, the company is said to have satisfied the going concern concept. So if this is satisfied then naturally the periodicity concept of the company will also be satisfied.
Hope the above wud clear your difficulty.
lavanya
(nil)
(32 Points)
Replied 08 January 2012
could u explain what is carbon credit. what is its accounting treatment?
Jitesh Golani
(student)
(60 Points)
Replied 17 February 2012
The carbon credit system was ratified in conjunction with the Kyoto Protocol. Its goal is to stop the increase of carbon dioxide emissions.
For example, if an environmentalist group plants enough trees to reduce emissions by one ton, the group will be awarded a credit. If a steel producer has an emissions quota of 10 tons, but is expecting to produce 11 tons, it could purchase this carbon credit from the environmental group. The carbon credit system looks to reduce emissions by having countries honor their emission quotas and offer incentives for being below them.
Read more: https://www.investopedia.com/terms/c/carbon_credit.asp#ixzz1md1sPlEv
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