Question

QUESTIONS
What do you mean by Accounting Principles? Explain its main characteristics...​

Answer 1

Answer:

Accounting principles are the rules and guidelines that companies must follow when reporting financial data. The Financial Accounting Standards Board (FASB) issues a standardized set of accounting principles in the U.S. referred to as generally accepted accounting principles (GAAP). ... Accrual principle.

tha characteristics are.

Relevance or Usefulness: ADVERTISEMENTS: A principle will be relevant only if it satisfies the needs of those who use it. ...

Objectivity: A principle will be said to be objective if it is based on facts and figures. ...

Feasibility: The accounting principles should be practicable.

Answer 2

Answer:

here is your answer

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