Accountancy, asked by himanshusharma88771, 8 months ago

accounting concepts

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Answered by parikailey

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Hey !
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Answered by asuryavarsha2016

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These basic accounting concepts are as follows: Accruals concept. Revenue is recognized when earned, and expenses are recognized when assets are consumed. ... Economic entity concept. The transactions of a business are to be kept separate from those of its owners.

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