Waec Model Questions Vol1 2021 Financial Accounting Question 7

Practice objective / multiple choice question 7 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2021 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 7 WAEC_MODEL_QUESTIONS_VOL1 • 2021 • FINANCIAL_ACCOUNTING • objective

A company records depreciation expense for a piece of equipment before the equipment has been purchased. Which fundamental accounting concept is being violated?

Answer Options

Correct Answer A. Matching concept
B. Consistency concept
C. Historical cost principle
D. Revenue recognition principle
Correct Answer
A
Correct Option:
Matching concept

About This Question

This is Waec Model Questions Vol1 2021 Financial Accounting Question 7. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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