Final answer:
The basic principles of accounting include consistency, materiality, conservatism, cost-benefit, going concern, matching, objectivity, revenue recognition, and comparability, which all contribute to fair and transparent financial reporting.
Step-by-step explanation:
The basic principles of accounting, as identified by Ellexson, include consistency, materiality, conservatism, cost-benefit, going concern, matching, objectivity, revenue recognition, and comparability. Therefore, the correct answer to the student's question about the basic principles of accounting is (d) All of the above. Each principle plays a crucial role in guiding accounting practices to ensure transparent, fair and comparable financial statements for stakeholders.