Question

Name the basic principles of accounting.

Answer 1

The basic principles of accounting are given below.

1. The Business Entity Concept
2. The Going Concern Concept
3. Money Measurement Concept
4. Accounting Period Concept
5. The Matching Principle
6. The Dual Aspect Principle
7. The Complete Disclosure Principle
8. The Revenue Principle
9. The Expense Principle
10. The Realisation Principle