ACCOUNTING ASSUMPTIONS OR CONCEPTS
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There are four basic assumptions of financial accounting: (1) economic entity, (2) fiscal period, (3) going concern, and (4) stable dollar. These assumptions are important because they form the building blocks on which financial accounting measurement is based.
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Accounting Assumptions are
Explanation:
Business Entity Assumption.
Money Measurement Assumption.
Going Concern Assumption.
Accounting Period Assumption
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