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What's standard? Accounts should be produced using the same principles from one year to the next year
 
The consistency principle
 
The going concern principle
 
The prudence principle
 
The matching principle
What's standard? Items are recorded when the income and expense arises, not depend on movement of cash.
 
The matching principle
 
The going concern principle
 
The prudence principle
 
The consistency principle
What's standard? recognizing expenses immediately, and not recognizing income until it is reasonably certain
 
The prudence principle
 
The going concern principle
 
The matching principle
 
The consistency principle
What's standard? When preparing accounts, one must assume that the company will still be viable in the years to come
 
The going concern principle
 
The prudence principle
 
The matching principle
 
The consistency principle


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