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What are accounting Principles?

Answer Posted / arjunanag@rocketmail.com

Accounting Principles are 2 types. There are
1. concepts (10)
2. conventions (4)

concepts gives assumptions to the comapny.
1. business entity concept
2. money measurement concept etc.

conventions gives guidance to the company

1. materiality
2. conservatism etc

Is This Answer Correct ?    1 Yes 1 No



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