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.
The following transactions relate to Osei Enterprises for the year ended 31st December 2020. ...
The historical development of accounting reveals that it? ...
Which of the following is a nominal account? ...
GH⊄ Sales 200000 Purchase 170000 ...
Use the following information to answer the given question \(\begin{array}{c|c} & \text{1/1/8...
Which of the following is a credit item in creditors ledger control account? ...
Which of the following would be posted to the proprietor's capital account? ...