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what are the concepts & conventions of accounting?
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Answer Posted / satish and ramu
there are 4 main concepts.
business entity concept :it denotes owner is separate from
business.
money measurement concept: every transaction must have a in
money form.
going concern concept: the business will continue to
operate for as long as.
accounting period concept: this concepts shows profit and
loss a/c and balance sheet shoud be prepared at particular
accounting period.
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