Fundamental Accounting Assumptions
Fundamental Accounting Assumptions Fundamentals accounting assumptions are the underlying assumptions that are presumed to have been followed while preparing the
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Accounting Assumptions. Assumption#1. Accounting Entity. Assumption#2. Going Concern. Assumption#3. Measurement and Units of Measure. Assumption#4. Periodicity. Principle 1: Historical Cost. Principles# 2 and 3. Accrual Basis. Summing up The Accounting.