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.
One of the objectives of accounting is that it can be used for ...
Cost of raw materials available------ 32,000 Manufacturing wages -----10,000 Factory expenses...
Use the following to answer the given question DEBTORS CONTROL ACCOUNT: \(\begin{array}{c|c} &...
The amount allowed off the cost price of an article to stimulate patronage is ...
Which of the following is the basis of accounting in the Civil Service? ...
The two fundamental books of accounting are ...
An effective accounting system should provide information ...