what do you mean by accounting
Concepts ? Mention any four accounting Concepts.
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Accounting concepts is basically the accounting rules that should be follow while preparing the financial statements and accounts . ... 1) Accrual Concept: According to this concept revenue and expenses are noted when they occur in a financial statement and when the cash received or paid at that time they are not recorded.
- Conservatism concept. ...
- Consistency concept. ...
- Economic entity concept. ...
- Going concern concept. ...
- Matching concept. ...
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