Answer Posted / chandana

Accounting concepts are the basic rules which are generally
fallowed by every company. The basic accounting concepts
which are fallowed generally are:
1.Business Entity Concept
2.Going Concern Concept
3.Dual Aspect Concept
4.Accural concept.
5.Money Measurement concept
6.Realisation Conept
7.Accounting period concept
8.Matching concept
9. Cost Concept.
Accural Concepts defines that the income and expenses must
be recorded Financial statements as soon as they are
incurred.

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