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list out the accounting concepts and explain the accural
concept
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Answer Posted / ravipolina
1 GOING CONCERN
2 MONEY MEASURMENT
3 CONSISTENCY
4 ACCTUAL BASIS
THESE ARE THE CONCEPTS OF ACCOUNTANCY
GOING CONCERN IS NOT GOING TO CLOSE IN SHORT PERIOD
MONEY MEASURMENT CONCEPT MEANS VALUED IN TERMS OF MONEY
CONSISTENCY MEANS FOLLOWING THE SAME RULE IN THE FUTURE
YEARS ONLY
ACCRUAL BASIS FOR RETAIL&MERCANTILE BASED
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