Which three accounting principles or concepts or conventions are treat

1.	Which three accounting principles or concepts or conventions are treated as fundamental accounting assumptions by ICAI?
Answer» The International Accounting Standards Committee (IASC) and the Institute of Chartered Accountants of India (ICAI) treats following three concepts as the fundamental accounting assumptions : Going concern concept, Consistency concept and Accrual concept.

Which three accounting principles or concepts or conventions are treated as fundamental accounting assumptions by ICAI?

Answer»

The International Accounting Standards Committee (IASC) and the Institute of Chartered Accountants of India (ICAI) treats following three concepts as the fundamental accounting assumptions :

Going concern concept,
Consistency concept and
Accrual concept.

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Which three accounting principles or concepts or conventions are treated as fundamental accounting assumptions by ICAI?

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