Accounting principles | Accounts | Class - 11

Accounting principles | Accounts | Class - 11

Basic accounting terms | Accounts | Chapter - 2 | Class 11 | part 1 👇👇👇

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[Rkpsz-dm]

Going concern - business will continue for long period of time
Consistency concept - choose method of accounting principles consistently
Accrual concept - kharcha jab arise hua tab hi record kro

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[ayush]

accounting assumptions
1. going concern, assume that business will continue
2. consistency, same accounting concepts are followed
3. accrual concept, revenue is recorded when they made and expenses are recorded when the]y arise

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