Question

Basic principles of accounting as identified by Ellexson include which of the following?

a) Tracking accounts
b) Managing risk
c) Monitoring cash flow
d) All of the above

Answer 1

The basic principles of accounting as identified by Ellexson include tracking accounts, managing risk, and monitoring cash flow.

Step-by-step explanation:

The basic principles of accounting as identified by Ellexson include all of the above: tracking accounts, managing risk, and monitoring cash flow. Tracking accounts refers to keeping accurate records of financial transactions. Managing risk involves assessing and mitigating potential financial risks. Monitoring cash flow involves regularly reviewing incoming and outgoing cash to ensure financial stability.