Question

explain any three basic assumption of accounting?​

Answer 1

Answer:

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.

Answer 2

Answer:

There are three basic assumptions of finacial accounting:

1. Fical period,

2.economic entity,

3.stable dollar.

Hope it helps