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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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संबंधित प्रश्न
Explain the Money Measurement Concept.
Explain the concept of The Dual Aspect Principle.
Define the term GAAP.
According to this principle, accounts should be prepared in such a way that all the material information required by users of financial statements is clearly disclosed.
According to this principle, revenue is deemed to be realised when the goods have been transferred or the services have been rendered to a customer.
The capital provided by the owner is a liability of the firm. Answer with reference to the concept of Accounting.
"Every transaction affects at least three accounts." Comment.
Explain the money measurement principle of accounting.
Explain the complete disclosure principle.
"The principle of full disclosure and principle of materiality are contradictory." Comment.
