Fundamental Accounting Principles Chapter 3 Answers

Need help with your homework? Look no further! Our subject experts are ready to effortlessly handle your assignments, so you can finally say goodbye to stress and hello to top grades.

Click or drag files to this area to upload. You can upload up to 3 files.
Get a response in under 15 min

Fundamental Accounting Principle Chapter 3 Answers

Here is a List of the Basic Accounting Principles

If you want to pursue the career of an accounting then it is immensely important to understand the basic accounting principles. There are a number of accounting principles that have been developed in recent times. It is these principles on which the modern accounting theories are based.

Basic accounting principles

If you are interested to know more about the accounting principles then you can go through the discussion given below:

  • Accrual Principle

This principal says that it is important to record different accounting transactions at the time when they have actually occurred. It is not recommended to record transactions when cash flow happens.

This is the most important concept of the accrual principle. Here it is also important to prepare financial statements that will show what actually happened during the accounting period.

Again if you face problems getting fundamental accounting principles chapter 3 answers then you can surely get in touch with us at myhomeworkhelp.com.

  • Conservatism Principle

According to this principle if there is some sort of uncertainty about outcome then it is essential to record both liabilities as well as expenses. If an organization is not very sure about whether it will be able to earn particular revenue then it should not record it. However if they are unsure about a loss that they may have to incur then it is important to record.

  • Consistency Principle

This principle states that when an organization adapts an accounting method then it should continue following it till another better method is adapted. If an organization does not follow this principle then the business will follow different accounting principles. Following different accounting principles at different times makes it difficult for an organization to measure its financial result.

Understanding this concept is definitely not very easy. So if you find it difficult to understand this topic you can definitely contact our agency. Again if you want to get fundamental accounting principle chapter 3 answers then our agency is definitely the best available option for you.

  • Cost Principle:

According to this principle, liabilities, assets and equity investments should be recorded at their purchase cost. However this principle is losing its importance.  This is because new principles are coming up that say that assets and liabilities should be recorded in their market value.

  • Economic entity principle

This principle states that business transactions should be maintained separately from owner’s transactions. This prevents the mixing up of liabilities and assets with other entities. This prevents confusions to arise when financial statements are audited.

  • Full disclosure principle

According to this principle it is important to disclose everything that will help the reader to understand the financial statements of an organization.

  • Matching Principle

Another very important accounting principle is the accounting principle. According to this principle it is important for an organization to tally the revenue with the cost.

It has been observed that at times students find it difficult to understand the different accounting principles. They might also not get fundamental accounting principle chapter 3 answers. So the best option available here is to take help from a well-known agency. This agency will provide you with the help that you can rely on.

Why hire services of myhomeworkhelp.com?

  • Our tutors are available 24/7 and you can contact us through online chat support
  • We have a set of highly qualified tutors associated with us. They provide you an excellent explanation of the concepts related to financial accounting.
  • We also guide you with your project and ensure that you are able to prepare a good project.

Whenever you need fundamental accounting principle chapter 3 answers then do get in touch with our company.

Homework Blues?

Get expert help with homework for all subjects.

  • NPlagiarism-free work
  • NHonest Pricing
  • NMoney-back guarantee

Latest Reviews

Solved Sample Works

Accounting Homework

Corporate Accounting Sample

Biology Homework

Genetics Assignment Sample

Essay Writing Help

Business Plan Sample

Homework Help FAQs

Our Answers to Your Questions

How do I submit my homework?
K
L

Getting homework help is very simple with us. Students can either send us the homework via email or they can upload it to our online form here. For a quicker response, You can also chat with us at WhatsApp and submit homework directly. You are sure to get a response from our side within 10 minutes.

How much will my homework cost?
K
L

The cost of paying someone to do your homework varies depending on the service and the type of assignment. We have listed our standard pricing plans for popularly used writing services. For other kind of assignments, You can get a free instant quote from us using our online form.

We also accept partial payment to start working on your assignment help. You can pay the remaining amount when your task gets completed. No pressure of up-front payment. No hidden order costs.

Can I receive help with my homework anytime?
K
L

Yes, you can receive help with your homework anytime with us. Our online homework help services are available 24/7, allowing you to receive assistance with your homework anytime, anywhere.

For urgent homework requests, reach out to us through our LiveChat or WhatsApp channels and one of our friendly support agents will assist you in finding the right expert for your online homework help request immediately. With our services, you can rely on 24/7 availability and meeting deadlines.

Are online homework websites budget-friendly for students like me?
K
L

Yes, Our Online Homework Help websites are an affordable solution for you as a student. Compared to traditional tutoring services, MyHomeworkHelp prices their homework help services honestly and within the budget of college students. This makes it easier for you to receive assistance with your homework without breaking the bank.

What is your plagiarism-free policy?
K
L

At myhomeworkhelp, we take plagiarism very seriously and ensure that all solutions provided by our tutors are original and authentic. Our tutors are trained to provide custom-made solutions, tailored specifically to meet the requirements of each student. We do not provide pre-written papers. All our homeswork solutions are made from scratch, guaranteeing 100% orignal homework answers.

Additionally, we have strict plagiarism-detection tools in place to check all submissions for authenticity.

Is using an Online Homework Help Service cheating?
K
L

Using online homework help services is not equivalent to cheating. Our services are intended to support students with their homework and provide them with the resources they need to succeed academically. With the help of our online homework help services, students can receive immediate assistance with their homework from any location, at any time.

At myhomeworkhelp, we are committed to promoting academic integrity. Our tutors provide solutions that serve as guides for drafting your own work. It is not acceptable to submit someone else's work as your own, as this constitutes academic plagiarism.

Can I chat with my tutor?
K
L

Using our secure chat board, you can now chat directly with your assigned tutor. The chats are encrypted both ways to secure your privacy. This makes your contact with the tutor directly & confidentially, so you can better explain any requirements or changes if needed or just need updates.

You can't contact the experts outside of chat board platform. Sharing any personal information, including but not limited to contact information, goes against our Terms and Conditions and therefore may result in permanently blocking you from the platform. We take any personal data very seriously and we do it for the safety of our users.

Know more about chat board here.

What is your money-back guarantee policy?
K
L

It’s worth noting that our online homework help service rarely leads to disappointment among students. Our expert tutors, along with our support and quality assurance team, are dedicated to providing the best possible experience for our customers. However, if for any reason a student is unsatisfied with their homework help solution, we offer unlimited revisions until they are fully satisfied.

In the rare event that a student remains unsatisfied even after revisions, we offer a money-back guarantee. We want all of our students to feel confident and secure when they turn to us for assistance with their homework, and this guarantee is just one way that we demonstrate our commitment to providing the best possible service. If you have any concerns about our services or the quality of the work you receive, please contact us for support.

What is the expertise of the tutor assigned to do my homework?
K
L

At myhomeworkhelp, we take pride in our team of qualified and experienced tutors. All of our tutors undergo a rigorous selection process and are required to have a minimum of a master's degree in their respective fields. Additionally, they must pass a series of tests to demonstrate their proficiency and ability to deliver quality work. We believe in transparency and providing our clients with the best possible service. You can be confident in the expertise of the tutor assigned to do your homework.

What about privacy & confidentiality?
K
L

Using My Homework Help is absolutely safe. We care about your security, therefore we encrypt all personal data to make every user feel safe while using our services and we don’t share any personal information with any third parties without your permission. Your credit card information is not stored anywhere at My Homework Help, and use of PayPal relies on their secure payment networks. Your identity, payment and homework are in safe hands. You can always be certain of getting professional help and remaining anonymous, while using My Homework Help.