(1) OBJECTIVITY:-A principle is objective to the extent that the accounting information is not influenced by the personal bias of those who furnish the information.
(2) RELEVANCE:-A principle is relevant to the extent that it results in information that is useful to those who want to know something about certain business.
(3) FEASIBILITY:-A principle is feasible to the extent that it can be applied without undue complexity or cost
(4) APPLICABILITY:-A principle is regarded as goods,if its application is possible.If a principle is theoretically sound, but its application is difficult, then the principle has no value.
(5) SIMPLICITY:-If a principle is simple,it should command popularity.Hence the principle should have simplicity
(2) RELEVANCE:-A principle is relevant to the extent that it results in information that is useful to those who want to know something about certain business.
(3) FEASIBILITY:-A principle is feasible to the extent that it can be applied without undue complexity or cost
(4) APPLICABILITY:-A principle is regarded as goods,if its application is possible.If a principle is theoretically sound, but its application is difficult, then the principle has no value.
(5) SIMPLICITY:-If a principle is simple,it should command popularity.Hence the principle should have simplicity
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