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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
This principle suggests that every debit has a corresponding and equal credit.
According to this principle, cost of a particular period should be charged from the revenue of same period only.
"Firms live forever." Explain with reference to the concept of accounting.
Accounts should disclose all material information (with reference to the concept of accounting). Justify either for or against by giving two reasons.
With reference to the concept of accounting only those transactions are recorded in accounts which can be expressed in terms of money. Justify either for or against.
The capital provided by the owner is a liability of the firm. Answer with reference to the 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.
"Accounting records serve as a source of information to the creditors of an organisation". Comment.
Explain matching principle of accounting.
"The principle of full disclosure and principle of materiality are contradictory." Comment.
