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Accounting conventions are common guidelines and practicesprinciples, assumptions, and constraintsfollowed by accounting professionals when recording business transactions. These accounting conventions are standards used by all

Accounting conventions are common guidelines and practicesprinciples, assumptions, and constraintsfollowed by accounting professionals when recording business transactions. These accounting conventions are standards used by all business organizations, so it is important to understand what they are and how to apply them.

  • Revenue recognition.
  • Cost effectiveness.

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