Question

Explain briefly accounting conventions​

Answer 1

Explanation:

• Accounting conventions are guidelines used to help companies determine how to record certain business transactions that have not yet been fully addressed by accounting standards. These procedures and principles are not legally binding but are generally accepted by accounting bodies.

Answer 2

$\huge\red{\mid{\fbox{\tt{ᴀɴsᴡᴇʀ }}\mid}}$

Accounting conventions are guidelines used to help companies determine how to record certain business transactions that have not yet been fully addressed by accounting standards. These procedures and principles are not legally binding but are generally accepted by accounting bodies.