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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 |
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