the characteristic of utility is found in accounting principles
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Relevance or Usefulness: 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.
Objectivity: A principle will be said to be objective if it is based on facts and figures. ...
Feasibility: The accounting principles should be practicable.
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ESSENTIAL FEATURES OF ACCOUNTING PRINCIPLES:
- 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.
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