explain in simple language all accounting principles
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accounting principles
1. accounting entity:''-- business is treated as a separate entity distinct from its owner.
2. Money Measurement principle:--- transactions and events that can be expressed in the money for in the term of money In recorded in the books of account .
accounting period principle life of an Enterprises is divided into time intervals which are known as accounting period at the end of which an income statement and the position statement that prepare to show the performance and financial position
1. accounting entity:''-- business is treated as a separate entity distinct from its owner.
2. Money Measurement principle:--- transactions and events that can be expressed in the money for in the term of money In recorded in the books of account .
accounting period principle life of an Enterprises is divided into time intervals which are known as accounting period at the end of which an income statement and the position statement that prepare to show the performance and financial position
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