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WHAT ARE THE PRINCIPALS OF ACCOUNTING
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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 life ?
ABC Ltd. firm has a sales of Rs.6 crores, Variable cost Rs. 3.5 crores and Fixed cost of Rs. 0.65 crores. The firm has debt and equity resources worth of Rs.7 crores and 10 crores respectively. With the data given show : (i) The firm’s ROI. (ii) EBIT if sales decline to Rs.4 crores. (iii) If the industry’s assets turnover is 4 times, does the firm has high or low asset turnover? The cost of debt is 12%. Ignore taxation.
What is the working formula for Inventory turnover
Expand-------NAST
expand D I N
what is the difference between Income and Receipts
Expand------------RST
What is contract accounting?
WHAT IS 'ABSORPTION AND CONSOLIDATION'?
1 Answers BA Continnum Solutions, Bank Of America,
what is Derivative?
what is the diff between reversal and cancellation entries?
what is the meaning of derivative.
25 Answers Capital IQ, PAD, UBS, Unicon,
Audit 
