Question

what are the major principles used in the accounting procedure​

Answer 1

Acura principle conservation principle consistency principle cost principle full disclosure principle matching principle extra

Answer 2

Answer:

Eight steps are used

●step 1 - identifying transactions

●step 2 - recording transactions in journal

●step 3 - posting

●step 4 -unadjusted trial balance

●step 5 -worksheet

●step 6 -adjusting journal entries

●step 7- financial statement

●step 8- closing the books