Question Completion Status: QUESTION 2 Question 1. Total 15 Marks Required: Suggested time allocation: 27 minutes Explain the following five (5) accounting concepts and principles. Provide an example for each to support your understanding. a. The cost principle (3 Marks) b. The monetary principle (3 Marks) c. Conservatism principle (3 Marks) d. Working capital (3 Marks) e. Full disclosure principle (3 Marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I Y S Paragraph Arial 14px EVEN Av L The cost principal :- this principal is under the ( GAAP) It also calles historical cost principal. MEASUREMENT PRINCIPAL- GAAP grnerally uses two principal Htorical cost principal and fait value principal - The cost principal- It dectates that companies companies record assets at their cost. Not only at the time the asset is purhase but a go over For example:- The cost of asset is fixed in this principal like if a property rate is 500,000 today if anyone want to sell it after five years wheather market price will increase or decrease.diffjjjeesdigs Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers