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Why are financial reports prepared on a periodic basis?

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Why are financial reports prepared on a periodic basis?

Answered Same Day Dec 21, 2021

Solution

Robert answered on Dec 21 2021
132 Votes
Why are financial reports prepared on a periodic basis?
Solution;
Financial statements are prepared on a periodic basis because business has been
established on a going concern concept i.e. it never comes to an end it goes for ever.
On the basis of this concept it is not possible to prepare...
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