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प्रश्न
What is meant by accounting concepts?
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उत्तर
Accounting concepts are the basic assumptions or conditions upon which accounting has been laid. Accounting concepts are the results of broad consensus. The word concept means a notion or abstraction which is generally accepted. Accounting concepts provide a unifying structure to the accounting process and accounting reports.
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संबंधित प्रश्न
Give the word term or phrase which can substitute the following statement:
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Amount invested in business by the proprietor.
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Art and science of recording business transactions.
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Book-keeping is an art, science and profession.
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