Rakesh has started his business of retail trade at a moderate level on october 1,2018 .He desires that he should prepare first profit and loss account and balance sheet on March 31,2019 and thereafter everyyear on March 31. you have to appraise his decision and ascertion whether his decision is justified.

Rakesh has started his business of retail trade at a moderate level on

1.	Rakesh has started his business of retail trade at a moderate level on october 1,2018 .He desires that he should prepare first profit and loss account and balance sheet on March 31,2019 and thereafter everyyear on March 31. you have to appraise his decision and ascertion whether his decision is justified.
Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/rakesh-617857" style="font-weight:bold;" target="_blank" title="Click to know more about RAKESH">RAKESH</a> has made c a correct decision.By doing so he has <a href="https://interviewquestions.tuteehub.com/tag/followed-2079285" style="font-weight:bold;" target="_blank" title="Click to know more about FOLLOWED">FOLLOWED</a> the fundamental accounting concept of <a href="https://interviewquestions.tuteehub.com/tag/going-1008806" style="font-weight:bold;" target="_blank" title="Click to know more about GOING">GOING</a> concern andalso periodicity principle</body></html>

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