By processing their milk supply by themselves and cutting out middlemen, by pooling their resources and working together, the members of Swaayam Ksheer have been able to generate more purchasing power and grow their operations and have been able to double their profits.
Answer:
Expenses ; revenues ; adjusting
Explanation:
According to the expense recognition or matching principle, the expenses that are incurred in a particular period should be matched with the revenues that are earned in that particular period.
This principle major part is of the adjustments so that the adjustment entries are passed so that the financial statements represents the true and fair view to the users of the accounting information
Answer:
TRUE
Interest income received by a cash basis taxpayer is generally reported in the tax year it is received.
