The accounting principle that states that In th... - WAEC Accounting 2013 Question
The accounting principle that states that, In the preparation of account statements, revenues are recognized as soon as goods is passed on to the customer is the
A
materiality conccept
B
matching concept
C
constitiency concept
D
realization concept
correct option: d
The realization principle is the concept that revenue can only be recognized once the underlying goods or services associated with the revenue have been delivered or rendered, respectively.
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