The concept which states that revenue is recognized when ...
The concept which states that revenue is recognized when goods are sold is
Realization concept
Going concern concept
Matching concept
Periodically concept
Correct answer is A
The realization concept states that revenue can only be recognized once the available goods or services associated with the revenue have been delivered or sold.
The principle of double entry system ensures? ...
When a share is sold for less than its nominal value, the difference is debited to ...
Bola a grocer, keep petty cash on imprest system, the float being GH⊄ 8,000. These transactions...
A payment of N150 to a credit ...
The purpose of the trading account is to ascertain ...
The gross profit disclosed in the branch stock adjustment account represents? ...
In a control account, provision for bad debts is found on the? ...
\text{Capital} & 12,700 & \text{Purchases} & 7,100 \\ \hline \text{Debtors} & 4,...
The net profit or loss for the year is determined in profit and loss account after ...