what are the limitations of accounting principle
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The limitations of accounting are;
Recording only monetary items.Time value of money.Recommendation of alternative methods.Restrain of accounting principles.Recording of past events.Allocation of problem.Maintaining secrecy.Tendency for secret reserves.Importance of form over substance.
Recording only monetary items.Time value of money.Recommendation of alternative methods.Restrain of accounting principles.Recording of past events.Allocation of problem.Maintaining secrecy.Tendency for secret reserves.Importance of form over substance.
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