Question

what are the basic principles of accounting explain them briefly.​

Answer 1

Answer:

There are a number of principles, but some of the most notable include the revenue recognition principle, matching principle, materiality principle, and consistency principle. ... Completeness is ensured by the materiality principle, as all material transactions should be accounted for in the financial statements.

Explanation:

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Answer 2

Answer:

There are a number of principles, but some of the most notable include the revenue recognition principle, matching principle, materiality principle, and consistency principle. The ultimate goal of standardized accounting principles is to allow financial statement users to view a company's financials with certainty that the information disclosed in the report is complete, consistent, and comparable.

Completeness is ensured by the materiality principle, as all material transactions should be accounted for in the financial statements.

Explanation:

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