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Going Concern Concept
The going concern concept states that a business will continue its operations indefinitely. In essence, it assumes that a business entity...
1 min read
Money Measurement Concept
The money measurement concept stipulates that all business transactions must be expressed in monetary terms, using the currency of the...
2 min read
Business Entity Concept
The business entity concept establishes that, for accounting purposes, the business and its owners are considered separate entities. This...
2 min read
Accounting Concepts and Conventions
Accounting principles and practices are essential for maintaining consistency and clarity in financial records. These principles, known...
2 min read
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