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Accountancy
Commission will be written in profit and loss account only when it is paid but why Commission Payable is written in profit and loss as it has to paid to manager but I have a doubt that generally we follow accrual concept of accounting so it should be still added to p& l but I have a doubt that in general we write only current year expenses and income in p& l accounts na as per matching concept but we should use both accrual and matching concept and prudence concept for preparing final accounts ?? Prudence concept is for calculation of anticipated loss for example provision for bad debts and doubtful debts
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