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प्रश्न
Name the basic principles of accounting.
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उत्तर
The basic principles of accounting are given below.
- The Business Entity Concept
- The Going Concern Concept
- Money Measurement Concept
- Accounting Period Concept
- The Matching Principle
- The Dual Aspect Principle
- The Complete Disclosure Principle
- The Revenue Principle
- The Expense Principle
- The Realisation Principle
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Generally Accepted Accounting Principles (GAAP)
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संबंधित प्रश्न
GAAP stands for ______.
According to this concept, a business firm is treated as a unit separate and distinct from its owners.
What is business entity concept of accounting?
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
"Fixed assets should be valued at the market price." Comment.
"Every transaction affects at least three accounts." Comment.
Why are Generally Accepted Accounting Principles (GAAP) needed?
Explain the complete disclosure principle.
Explain the principle of consistency.
Name any four concepts of GAAP.
