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List five accounting principles

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Reference no: EM131588165

Please attempt the following Assignment.

(1) List five Accounting Principles/Concepts that you Know and explain how they are use.

(2) What is the implication of applying accounting concepts wrongly

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The paper is in relation to accounting concepts. Accounting Concepts are basic assumptions which serves the basis of recording actual business transactions. The important concepts of accounting have been discussed and also the implications if the accounting concepts are wrongly applied have been discussed.

Reference no: EM131588165

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