Explain the five accounting principles and give an example

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Porblem 1: Explain the five accounting principles and give an example.

Principle 1:

Cash Flow Is What Matters

Principle 2:

Money Has a Time Value

Principle 3:

Risk Requires a Reward

Principle 4:

Market Prices Are Generally Right

Principle 5:

Conflicts of Interest Cause Agency Problems

Reference no: EM132788375

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