November 22, 2025

Principles of Accounts

THE CONCEPT WHICH STATES THAT REVENUE SHOULD BE RECOGNIZED AT THE POINT WHEN THE SALE IS DEEMED TO HAVE BEEN MADE IS THE CONCEPT WHICH STATES THAT REVENUE SHOULD BE RECOGNIZED AT THE POINT WHEN THE SALE IS DEEMED TO HAVE BEEN MADE IS
2 min read

THE CONCEPT WHICH STATES THAT REVENUE SHOULD BE RECOGNIZED AT THE POINT WHEN THE SALE IS DEEMED TO HAVE BEEN MADE IS

Don Steve May 6, 2024
A. matching B. consistency C. realization ✓ D. going concern   Revenue recognition is a fundamental accounting principle that determines...
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IN THE PREPARATION OF FINANCIAL STATEMENTS, FULL DISCLOSURE OF MINOR EVENTS ARE IGNORED IN LINE WITH IN THE PREPARATION OF FINANCIAL STATEMENTS, FULL DISCLOSURE OF MINOR EVENTS ARE IGNORED IN LINE WITH
1 min read

IN THE PREPARATION OF FINANCIAL STATEMENTS, FULL DISCLOSURE OF MINOR EVENTS ARE IGNORED IN LINE WITH

Don Steve March 27, 2024
A. accrual concept B. money measurement concept C. business entity concept D. materiality concept ✓   The materiality concept in...
Read More Read more about IN THE PREPARATION OF FINANCIAL STATEMENTS, FULL DISCLOSURE OF MINOR EVENTS ARE IGNORED IN LINE WITH
THE EXPENDITURE ON A GOOD OR SERVICES WHICH IS CONSUMED EITHER IMMEDIATELY OR WITHIN A CURRENT ACCOUNTING PERIOD IS CALLED THE EXPENDITURE ON A GOOD OR SERVICES WHICH IS CONSUMED EITHER IMMEDIATELY OR WITHIN A CURRENT ACCOUNTING PERIOD IS CALLED
1 min read

THE EXPENDITURE ON A GOOD OR SERVICES WHICH IS CONSUMED EITHER IMMEDIATELY OR WITHIN A CURRENT ACCOUNTING PERIOD IS CALLED

Don Steve February 22, 2024
A. fixed expenditure B. capital expenditure C. annual expenditure D. recurrent expenditure ✓   Recurrent expenditure refers to the regular...
Read More Read more about THE EXPENDITURE ON A GOOD OR SERVICES WHICH IS CONSUMED EITHER IMMEDIATELY OR WITHIN A CURRENT ACCOUNTING PERIOD IS CALLED
THE ACCOUNTING CONVENTION WHICH STATES THAT PROFIT MUST NOT BE RECOGNIZED UNTIL REALIZED WHILE ALL LOSSES SHOULD BE ADEQUATELY PROVIDED FOR IS TERMED THE ACCOUNTING CONVENTION WHICH STATES THAT PROFIT MUST NOT BE RECOGNIZED UNTIL REALIZED WHILE ALL LOSSES SHOULD BE ADEQUATELY PROVIDED FOR IS TERMED
1 min read

THE ACCOUNTING CONVENTION WHICH STATES THAT PROFIT MUST NOT BE RECOGNIZED UNTIL REALIZED WHILE ALL LOSSES SHOULD BE ADEQUATELY PROVIDED FOR IS TERMED

Don Steve February 16, 2024
A. materiality B. objectivity C. consistency D. conservatism ✓   The accounting convention that states profit must not be recognized...
Read More Read more about THE ACCOUNTING CONVENTION WHICH STATES THAT PROFIT MUST NOT BE RECOGNIZED UNTIL REALIZED WHILE ALL LOSSES SHOULD BE ADEQUATELY PROVIDED FOR IS TERMED

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