Question

write any two characteristics of accounting principles.
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Answer 1

• Relevance or Usefulness: ADVERTISEMENTS: A principle will be relevant only if it satisfies the needs of those who use it.
• Objectivity: A principle will be said to be objective if it is based on facts and figures. ...
• Feasibility: The accounting principles should be practicable.

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Answer 2

Answer:

1. Accounting principle ensure uniformity and understandability:

Accounting principle are uniform set of rules or guidance recommended for use by all enter prises to ensure uniformity and understandability.

2. Accounting principle are man made:

Accounting principle are man made. these principle are best possible suggestion derived from experience and reason.

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