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Q » What are the fundamental principles of accounting?
06 Dec, 2025
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A » The fundamental principles of accounting include the accrual principle, ensuring transactions are recorded when they occur; the consistency principle, requiring uniform application of accounting methods over time; the going concern principle, assuming the entity will continue operating; the matching principle, aligning expenses with related revenues; and the prudence principle, emphasizing caution in financial reporting. These principles form the foundation for accurate and reliable financial statements.
06 Dec, 2025
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