Question

explain the meaning and significance of concepts and conventions in accounting​

Answer 1

Answer:

Accounting concepts are the basic assumptions or fundamental propositions within which accounting operates. ... Accounting conventions are the outcome of accounting practices or principles being followed by the enterprises over a period of time

Explanation:

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Answer 2

Answer:

Accounting concepts are the basic assumptions or fundamental propositions within which accounting operates.Accounting conventions are the outcome of accounting practices or principles being followed by the enterprises over a period of time .