Write short notes on the following accounting principles with proper example. A) cost principle? Proper Example B) Economic entity assumption? Explain example C)Monetary unit Assumption?explain example

Write short notes on the following accounting principles with proper example. A) cost principle? Proper Example B) Economic entity assumption? Explain example C)Monetary unit Assumption?explain example

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter2: Financial Reporting: Its Conceptual Framework

Section: Chapter Questions

Problem 2MC: Which of the following is considered a constraint on useful information by Statement of Financial...

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Write short notes on the following accounting principles with proper example.

A) cost principle? Proper Example

B) Economic entity assumption? Explain example

C)Monetary unit Assumption?explain example

D) going concern?example

E) periodicity?example

F)Revenue recognition principle? Example

G)Matching concept? Example

H)Accrual basis of accounting? Example

I) Dual aspect of accounting? Explain example

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