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discuss accounting concepts clearly showing their ability to aid in producing usefull information to users.

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discuss accounting concepts clearly showing their ability to aid in producing usefull information to users.
Answered Same Day Dec 24, 2021

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David answered on Dec 24 2021
110 Votes
Discuss accounting concepts clearly showing the ability to aid in providing useful information
to users
The major accounting concepts are:-
1. Accrual concept: - It states that a company must account for the transactions in the period
they occur i
espective of the fact whether cash has been paid or not. The period in which
services are received or delivered accounting has to be done. It helps to provide useful
information in a way that it account for the services in the period they are received or given
i
espective...
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