Question 27

The realization concept states that

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

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
2010
Question no.
#27
Type
Objective

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