The accounting principles are divide into two types These are ........

General Accounting Principles Concepts of Accounting

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The accounting principles are divide into two types. These are

Accounting Concept

Accounting conventions

Accounting standard

Both 1 & 2

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Explanation:

- Accounting Concepts: These are broad principles that underlie the preparation of financial statements, like the going concern, matching, and accrual concepts.

- Accounting Conventions: These are traditional practices that guide the consistent application of accounting principles, such as conservatism and materiality.

- Accounting Standards: These are specific guidelines issued by governing bodies to ensure uniformity and comparability in financial reporting.

- Option four: Both 1 & 2 are correct since accounting principles are typically divided into accounting concepts and conventions.