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the accrual principle assumption (multitran.ru); accrual principle (means that sales are recognised when they are made, rather than when cash is received – so sales and purchases on credit are usually included in profit and loss account in the year the sale was invoiced in, rather than when payment is received.  moneyterms.co.uk Alexander Demidov) | |||
| time period assumption (The time period principle or time period assumption) is an accounting principle which states that a business should report their financial statements appropriate to a specific time period labolbat) | |||