Which of the following are defined in the text as general approaches utilized in the recognition and measurement of accounting events?
A)Concepts
B)Principles
C)Postulates
D)Axioms

Question

Quizplus · Accepted Answer

Principles are defined in accounting texts as general approaches utilized in the recognition and measurement of accounting events. Concepts, postulates, and axioms, while important in the theoretical framework of accounting, are not specifically defined as the general approaches for the recognition and measurement of accounting events in the same way principles are.

Which of the Following Are Defined in the Text as General