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What are accounting Principles?

Answers were Sorted based on User's Feedback



What are accounting Principles?..

Answer / keshav

Accounting is a means of collecting of summarizing analysis
and reporting in monetary terms information about business...

Branches of accounting .
1. financial accounting
2. cost accounting
3. management accounting

Is This Answer Correct ?    0 Yes 0 No

What are accounting Principles?..

Answer / g.naresh

Accounting Principles are:

Personal Account: Debit the Receiver and
Credit the Giver.

Real Account: Debit what Comes In and
Credit what Goes Out.

Nominal Account: Debit all Expenses and Losses and
Credit all Gains and Incomes

Is This Answer Correct ?    0 Yes 0 No

What are accounting Principles?..

Answer / irshad khan

Real
Personal
nominal

Is This Answer Correct ?    0 Yes 0 No

What are accounting Principles?..

Answer / neha

accounting principles are the set of rules, regulations and
standards followed by all the companies world wide in
accounts like GAAR generally accepted accounting rules.
real , nominal, personal acc are the type of accouts.

Is This Answer Correct ?    0 Yes 0 No

What are accounting Principles?..

Answer / chaitra.m

The 3 main accouting principles are

- Personal a/c :Dr the receiver Cr the giver

- Real a/c :Dr what comes in Cr what goes out

- Nominal a/c :Dr all expenses & loses Cr all incomes & gains

Is This Answer Correct ?    0 Yes 0 No

What are accounting Principles?..

Answer / satish

1)REAL ACCOUNT: COMES IN DEBIT ACCOUNT
GOES OUT CRIDET ACCOUNT
2)Nominal Account: all Expenses and LossesDebit Account
all Gains and Incomes Credit Account
3)Personal Account: Debit the Receiver and
Credit the Giver.

Is This Answer Correct ?    0 Yes 0 No

What are accounting Principles?..

Answer / gopakumar

Personal A/C :- Debit the Receiver Credit the Giver
Real A/C :- Debit what comes in Credit what goes out
Nominal A/C :- Debit all Expenses & Losses Credit all Incomes & Gains

Is This Answer Correct ?    0 Yes 0 No

What are accounting Principles?..

Answer / santosh gophane

The Accounting Principles are : -

Money Measurement Concept
Going Concern Concept
Cost Concept
Conservative Concept
Accounting Period Concept
Accrual Concept
Matching Principle
Consistency Principle

Is This Answer Correct ?    19 Yes 20 No

What are accounting Principles?..

Answer / vikas

Accounting principles or Generally Accepted Accounting
Principles are a set of rules that are to be followed while
preparing the final accounts. The principles are:
Separate entity concept
Going concern concept
money measurement concept
cost concept
accounting period concept
realization concept
dual-aspect concept
accrual concept
matching concept
objective evidence concept
consistency
full disclosure
conservatism
materiality

Is This Answer Correct ?    16 Yes 17 No

What are accounting Principles?..

Answer / shishu pal singh

Three types of Accounting Principal

1. Personal Account
Dr - Reciever
Cr. - Giver

2. Real Account
Dr. - Assets Comes in
Ct. - Assets Goes out

3. Nominal Account
Dr. - All Expenses
Cr. - All Imcomes & Gains

Is This Answer Correct ?    9 Yes 10 No

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