Interested to Buy Any Domain ? << Click Here >> for more details...
WHAT ARE THE PRINCIPALS OF ACCOUNTING
- 6 Answers
- 10194 Views
- Fullerton, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sitaram sawant
There are Three fundamentals principles
1. debit the receiver and credit the giver
2. debit what comes in and credit what goes out
3. debit all losses or expenses and credit all gain or
income
| Is This Answer Correct ? | 32 Yes | 16 No |
Answer / venu
Principles:-
1. Economic Entity Assumption
2. Monetary Unit Assumption
3. Time Period Assumption
4. Cost Principle
5. Full Disclosure Principle
6. Going Concern Principle
7. Matching Principle
8. Revenue Recognition Principle
9. Materiality
10. Conservatism
| Is This Answer Correct ? | 19 Yes | 7 No |
Answer / aleem
There are three important principles of Accounting
Personal Accounting: Debit the receiver and Credit the giver
Real Accounting: Debit what comesin and Credit What goesout
Nominal Accounting: Debit all expenses and losses and
Credit all incomes and gains
| Is This Answer Correct ? | 18 Yes | 8 No |
Answer / palakurthi rajamouli
Accounting concepts and accounting conventions are called
accounting principles
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / kumar
1. debit the receiver and credit the giver
2. debit what comes in and credit what goes out
3. debit all losses or expenses and credit all gain or
income
| Is This Answer Correct ? | 1 Yes | 1 No |
Is Entry Tax is applicable on consumable goods purchased Against C Form @ CST 2%
is accrued expense is asset or liability
Hai i am mathi Preparing for bsrb clerical examinations.If anybody had that please mail me at mathiy@rediffmail.com
What is the difference between debit and credit?
Dear all, Could you suggest me that if got a job in a/cs in Big org but on payroll of Outsourcing company,What should to prefer the company payroll or job the ?
Kindly solve the following problem. Financial accounting. 1. Bheema does not maintain his book in the double entry system . His books showed following facts. Receipts for the year ended 31.12.2007 from sundry Debtors 17625.00 Cash sales 4125.00 paid by bheema (proprietor) 2500.00 total 24250.00 payments made for the year ended 31.02.2007 new machinery purchased 625.00 drawings 1500.00 wages 6725.00 salaries 1125.00 interestpaid 75.00 telephone 125.00 Rent 1200.00 lighting 475.00 sundry expenses 2125.00 sundry creditors 7625.00 total 21600.00 Assets and Liabilities As on 31.12.2006 As at 31.12.2007 sundry creditors 2525.00 2400.00 sundry Debtors 3750.00 6125.00 Bank 625.00 ? stock 6250.00 3125.00 plant 7500.00 7315.00 from the Above data , prepare TRADING A/C, PROFFIT & LOSS A/C for the year ended 31st december 2007 and the BALANCE SHEET as on on that date. Kindly solve the problem
What is the journal entry for Call and a Put option both in the books of buyer and seller
What is the difference between govt. company and public ltd. company
How do you assess the value of intangible assets such as copyrights and logos?
what is GL Balance
What is COVER payment?
Answered but misspelled pl correct HELPS US TO KNOW THE ARTHEMATICAL OF THE BOOKS OF ACCOUNTS (ANS.NCELABALAIRT)
Audit 
