Question

ue:2
Match the columns :
Record of assets on cost price
Rules of accounting
Principle of consistency
Accounting period
Monetary measurement
comparison study
annual records
- disclose in money
accounting standards.
principle of Historical cost​

Answer 1

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.