Question

what are the basic accounting concept and explain their complications ​

Answer 1

Answer:

Accounting concept refers to the basic assumptions and rules and principles which work as the basis of recording of business transactions and preparing accounts. This concept assumes that, for accounting purposes, the business enterprise and its owners are two separate independent entities.....

Answer 2

Accounting concept refers to the basic assumptions and rules and principles which work as the basis of recording of business transactions and preparing accounts. This concept assumes that, for accounting purposes, the business enterprise and its owners are two separate independent entities.