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What are accounting Principles?
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Answer Posted / s.praveen
accounting principles can be classified into two categories
1)accounting concepts
2 accounting conventions
accounting concepts are
i) business entity concept
ii) dual aspect concept
iii) going concern concept
iv) cost concept
v) money measurement concept
vi) accounting period concept
accounting conventions are
i) convention of consistency
ii) convention of diclosure
iii) convention of metiriality
iv) convention 0f conservatism
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