1.

Define Accounting. What are its objectives? Briefly explain the accounting concepts which guide the accountant at the recording stage. Define Accounting. What are its objectives? Briefly explain the accounting concepts which guide the accountant at the recording stage.

Answer»

Explanation:

accounting concepts are

BUSINESS ENTITY

ACCOUNTING PERIOD

COST CONCEPT

MATERIALITY CONCEPT

MATCHING CONCEPT

DUAL ASPECT CONCEPT

REVENUE RECOGNITION

VERIFIABLE EVIDENCE CONCEPT

GOING CONCERN

ACCRUAL CONCEPT



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