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  3. (a) briefly explain any three accounting principle

(a) Briefly explain any three accounting principles. Why accounting principles are important? (b) Assume you...

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Accounting

(a) Briefly explain any three accounting principles. Why accounting principles are important?

(b) Assume you are the manager of an engineering company, you are advised to measure the performance of the business for the last month. How would you do it?

(c) Following balances have been extracted from the different ledgers of a non-manufacturing company namedHR Company Limited. Prepare a trial balance on 31 October 2021: Cash 3,000; A/c Payable 4,000; Service revenue 6,000; Unearned revenue 2,500; Office furniture 7,000; Prepaid salary 1,500; Owners drawing 3,100 Supplies 1,000; Administrative expense 3,500; Office rent 2,900 and Owners capital 9,500

(d) Explain the accounting concept. Analyze the fundamental activities of accounting from your own point of view. [42.5=10]

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