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What is accounting convection?

Updated: 9/17/2023
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Tunde2010

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βˆ™ 11y ago

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Accounting conventions are the rules and regulations which are required to be followed by the Accountants while they maintain the accounts of transactions of companies. The accounting conventions are followed from many years back and they are changed only if the need arises. Due to the changing ways of businesses and more competitive environment, the accounting conventions can be changed slightly for increasing the efficiency of the accounting practices.

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βˆ™ 11y ago
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Q: What is accounting convection?
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