Accounting principles are generally based upon ........

Accountancy (Phase -I & II) Concepts of Accounting

Download Solution PDF

Accounting principles are generally based upon:

Practicability

Subjectivity

Convenience in recording

None of the above

छोटे Courses बड़े Results

Master Concepts of Accounting

Prepare through Micro-courses

Try Now

Explanation:

Accounting principles can be defined as rule of conduct or action. These are the general laws used with the theory and practices of accounting. These are broad guidelines and adaptability of the same depends on the the internal characteristics of the firm