Answer: The money measurement concept states that the transactions all those transactions which can be recorded in the mone…
Answer: The Conservatism concept of accounting lays down the principle that the entities should not anticipate for the prof…
Answer: The consistent practice for the preparation of the financial statements must be made in order to ensure consistency…
Answer: The process of financial accounting starts from the process of recording a transaction and is then followed by the …
Answer: The accounting equation is the fundamental part of the balance sheet which serves as the basis for the system of do…
Answer: The generally accepted rules of accounting recognise the practices of accounting either when realisable or when r…
Answer: It is important for accountants to assume Going Concern as it leads them to adopt the other business concepts and…
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