Advertisements
Advertisements
Question
What is meant by accounting concepts?
Advertisements
Solution
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.
APPEARS IN
RELATED QUESTIONS
Give the word term or phrase which can substitute the following statement:
Recording of business transactions.
Give the word term or phrase which can substitute the following statement:
Amount invested in business by the proprietor.
Do you agree or disagree with the following statements :
Book-keeping is an art, science and profession.
Define book-keeping.
Answer in One Sentence.
What is meant by Goods?
Answer in One Sentence:
What is meant by Goods?
Answer in One Sentence:
What is meant by Goods?
Answer in One Sentence:
What is meant by Goods?
Answer in One Sentence:
What is meant by Goods?
Answer in One Sentence:
What is meant by Goods?
