Accounts are maintain on base of (1) Accrual Concept (2) Prudence Concept

Accounts are maintain on the base of solid and effective record and proof of transaction in the books of accounts

Accounts are maintain on base of Accrual Concept. It is one of the importance concept of Generally Accepted Accounting Principles.

(1) is the Correct Ans.

Accrual Concept.

Accounts are maintain on bass of Accrual  Concept.

Answer is

>>(1)Accrual concept

Accounts are maintained  upon the concept of "ACCRUAL" .therefore answer is "Accrual Concept".

Accrual concept is correct answer because the account payment and received is not done at one day activities