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Discussion Board for a Question on Quiz: Accounts - Principles of account (WAEC 2010)

Accounts - Principles of account (WAEC 2010)

46 Questions · Public · Objective · Quiz suitable for all ages

18 Click Here To Discuss Question

The realization concept states that

Select 1 Option (1 Mks)

revenue is recognized as being earned earned when ownership of goods passes to the customer
revenue and profit should not be anticipated
similar way from one accounting period to another
transaction must be expressed in monetary term

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question_answer Discussion Board for a Question on Quiz: Accounts - Principles of account (WAEC 2010)

Discussion Board for a Question on Quiz: Accounts - Principles of account (WAEC 2010)