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List The Basic Accounting Concepts? |
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Answer» The Institute of Chartered Accountants of India in its Accounting Standard-I (AS-I) has stated that GOING concern, accrual and consistency are fundamental accounting ASSUMPTIONS. For the SAKE of convenience all accounting concepts are discussed under two headings:
The Institute of Chartered Accountants of India in its Accounting Standard-I (AS-I) has stated that going concern, accrual and consistency are fundamental accounting assumptions. For the sake of convenience all accounting concepts are discussed under two headings: |
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