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प्रश्न
Name the basic principles of accounting.
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
GAAP stands for ______.
Accounting principles are necessary due to which of the following reasons?
It is due to this concept that financial statements are prepared at regular intervals, generally one year.
This principle suggests that every debit has a corresponding and equal credit.
According to this principle, revenue is deemed to be realised when the goods have been transferred or the services have been rendered to a customer.
Explain 'Matching Concept' of GAAP.
"Accounting records serve as a source of information to the creditors of an organisation". Comment.
Explain matching principle of accounting.
Explain the complete disclosure principle.
Explain the principle of consistency.
