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list out the accounting concepts and explain the accural
concept
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Answer Posted / amankwa daniel
going concern concept
is an accounting concept which is asumed that ones a
business is establishe it will continous to opreate over a
long period of time.
accrual concept
is asumed that net profit is the defferent of the revenue
and the expenditure incured.
entity concept
is assumed that the business ownes must be sepreated from
the businss.
money measurement concept
is asumed that every worth of event should be in a monetary
must be recorderd
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