'The increase in net worth view of income (held prior to the First World War)was gradually supplanted by the notion that income had to be realised'.' J.Godfrey,et el,'Accounting Theory',7^th Ed.p.299.
Explain what this statement means and why the change in view point came about.Which view of income is currently gaining the ascendancy?

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The Answer of 'The increase in net worth view of income (held prior to the First World War)was gradually supplanted by the notion that income had to be realised'.' J.Godfrey,et el,'Accounting Theory',7^th Ed.p.299. Explain what this statement means and why the change in view point came about.Which view of income is currently gaining the ascendancy?

'The Increase in Net Worth View of Income (Held Prior