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.
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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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