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What are accounting Principles?
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Answer Posted / ganesh upadhyay
Accounting principles are like laws that are made by
International Accounting Standards to be used in business so
that all tractions and records are kept clear and fair. The
basic difference between principles and concepts is to their
implementation and understanding. Principles are used to
implement where as procedures are used for understanding of
accounting.
| Is This Answer Correct ? | 7 Yes | 24 No |
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