Accountancy, asked by pawanrajsingh6578, 10 months ago

Enumerate the accounting concepts which relate to final accounts, and explain any one of these with its accounting implications.

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These are called final accounts. Final accounts are prepared at the end of each accounting year. ... The Materiality Concept implies that while measuring income of a business for an accounting period the nonmaterial facts can be ignored. There are two bases of accounting viz., cash basis and accrual basis.

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