The accounting principle that states that, In the prepara...
The accounting principle that states that, In the preparation of account statements, revenues are recognized as soon as goods is passed on to the customer is the
Materiality concept
Matching concept
Constituency concept
Realization concept
Correct answer is D
The realization principle is the concept that revenue can only be recognized once the underlying goods or services associated with the revenue have been delivered or rendered, respectively.
Given: Liabilities..............N23,700 Current assets...........N20,300 Fixed assets...............
Offei, a petty trader sold goods for GH¢36,240. The gross profit being 33\(\frac{1}{3}\)% on co...
The value of goods sent to a branch is debited to the ...
A service which a firm has enjoyed, but has not yet been paid for is ...
The concept which states that revenue is recognized when goods are sold is ...
BALANCE SHEET AS AT 31st DECEMBER, 2010 \(\begin{array}{c|c} & ₦ & & ₦ \\ \hline \te...
Shares that are offered to existing shareholders at a price is called ...