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What are accounting Principles?
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Answer Posted / jagrati
Personal a/c, Real a/c and Nominal a/c are the types of
accounts and these are used as a rules of accounting but
not are the principles of accounting.
Accounting Principles are:
1. Principle of Going concern
2. Principle of Dual aspect
3. Principle of Accrual basis and
4. Principle of Consistency
5. Principle of Prudence or conservatism etc.
| Is This Answer Correct ? | 5 Yes | 14 No |
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