Question

State two fundation accounting assumption.​

Answer 1

Answer:

Fundamental Accounting Assumptions: Going Concern, Consistency & Accrual. Financial Statements are prepared based on certain assumptions which are neither disclosed nor required to be disclosed, so they are called Fundamental Accounting Assumptions, like Going Concern, Consistency & Accrual.

Answer 2

Explanation:

Fundamental Accounting Assumptions: Going Concern, Consistency & Accrual. Financial Statements are prepared based on certain assumptions which are neither disclosed nor required to be disclosed, so they are called Fundamental Accounting Assumptions, like Going Concern, Consistency & Accrual.