WHAT ARE THE PRINCIPALS OF ACCOUNTING
- 6 Answers
- 8151 Views
- Fullerton, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sitaram sawant
There are Three fundamentals principles
1. debit the receiver and credit the giver
2. debit what comes in and credit what goes out
3. debit all losses or expenses and credit all gain or
income
| Is This Answer Correct ? | 32 Yes | 16 No |
Answer / venu
Principles:-
1. Economic Entity Assumption
2. Monetary Unit Assumption
3. Time Period Assumption
4. Cost Principle
5. Full Disclosure Principle
6. Going Concern Principle
7. Matching Principle
8. Revenue Recognition Principle
9. Materiality
10. Conservatism
| Is This Answer Correct ? | 19 Yes | 7 No |
Answer / aleem
There are three important principles of Accounting
Personal Accounting: Debit the receiver and Credit the giver
Real Accounting: Debit what comesin and Credit What goesout
Nominal Accounting: Debit all expenses and losses and
Credit all incomes and gains
| Is This Answer Correct ? | 18 Yes | 8 No |
Answer / palakurthi rajamouli
Accounting concepts and accounting conventions are called
accounting principles
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / kumar
1. debit the receiver and credit the giver
2. debit what comes in and credit what goes out
3. debit all losses or expenses and credit all gain or
income
| Is This Answer Correct ? | 1 Yes | 1 No |
what is debenture.?
can anyone give me clear meaning of INVOICE in accounting terms
12 Answers Aster Infratek, Microsoft,
Expand---------MDTR
What is the method to set the Credit limit for Customers in Business?
what do you mean by debt equity ratio?
17 Answers Arvind, Capital IQ, Raymond, Su Kam,
How to enter every month employees salaries in P&L a/c and why we use JOURNAL VOUCHER for salaries?
why opening stock posted in the credit side
how to prepare ourselvs and what to know about accounts for interview level and how to give a self introduction
fill in the Blanks Working capital=____________________________
What is meant by sensex?
Explain 4 types of Depriciation?
Why assets and expenses debited
Audit 
