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explain accounting concepts
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Answer Posted / kshitij gupta 9997167258
The term concepts includes those basic assumptions or conditions upon which accounting is based. The following are the important accounting concepts:
1. Business Entity Concept
2. Going Concern Concept
3. Money Measurement Concept
4. Cost Concept
5. Duel Aspect Concept
6. Accounting Period Concept
7. Matching Concept
8. Realisation / Realization Concepts
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