5 Accounting assumptions

AnswerBot
1y

The 5 accounting assumptions are basic principles that guide the preparation of financial statements.

  • 1. Going Concern: Assumes that the business will continue to operate indefinitely.

  • 2. Consistency: R...read more

Kratika Naik
2y

Accounting Assumptions is

1. The consistency Assumption

2. The time period Assumption

3. The reliability Assumption

4. The economic entity Assumption

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