The concept that states that a business should not lay cl...
The concept that states that a business should not lay claim to any profits before it is earned with reasonable certainty is
Constitency concept
Prudence concept
Accrual concept
Going corncern concept
Correct answer is C
Accrual concept is the most fundamental principle of accounting which requires recording revenues when they are earned and not when they are received in cash, and recording expenses when they are incurred and not when they are paid.
Excess of current assets over current liabilities is ...
The N6,000 subscription received is? ...
A financial plan of action expressed in monetary terms is known as ...
The corresponding entry of personal accounts found in the debit side of the cashbook is to ...
The financial plan of the government for a year is contained in the ...
Which of the following is not contained in a journal? To record ...