单选题 Accounting practices rest on certain guidelines. The rules that govern how accountants measure, process, and communicate financial information fall under the heading GAAP, which stands for generally accepted accounting principles as follows:
The Entity Concept
The most basic concept in accounting is that of the entity. An accounting entity is an organization or a section of an organization that stands apart from other organizations and individuals as a separate economic unit. From an accounting perspective, sharp boundaries arc drawn around each entity so as not to confuse its affairs with those of other entities.
The Reliability ( or Objectivity) Principle
Accounting records and statements are based on the most reliable data available so that they will be as accurate and as useful as possible. This is the reliability principle. Reliable data are verifiable. They may be confirmed by any independent observer. Ideally, then, accounting records are based on information that flows from activities that are documented by objective evidence. Without the reliability principle, also called the objectivity principal, accounting records would be based on whims and opinions and would be subject to dispute.
The Cost Principle
The cost principle states that assets and services that are acquired should be recorded at their actual cost (also called historical cost). Even though the purchaser may believe the price paid is a bargain, the item is recorded at the price paid in the transaction.
The cost principle also holds that the accounting records should maintain the historical cost of an assets for as long as the business holds the assets.
There, are also the Going- Concern Concept and the Stable - Monetary- Unit Concept.