Question

Sale/purchase of goods or asset are recognised on the basis of cash memo / invoice which concept is this?

Answer 1

Answer:

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Accounting is both a science and an art. And just like all other streams of science, even in accounting certain rules are followed. Also, accounting is based on certain assumptions as well. We call these accounting concepts or accounting concepts and principles. Let us study accounting concepts and applications in brief.

Answer 2

Here is your answer

Explanation:

Accounting is both a science and an art. And just like all other streams of science, even in accounting certain rules are followed. Also, accounting is based on certain assumptions as well. We call these accounting concepts or accounting concepts and principles. Let us study accounting concepts and applications in brief.