Post Utme Ims U 2017 Accounting Question 25

Practice objective / multiple choice question 25 from the 2017 Post Utme Ims U Accounting examination.

Post Utme Ims U 2017 Accounting Objective / Multiple Choice
Question 25 POST_UTME_IMS_U • 2017 • ACCOUNTING • objective

A company's accounting system is based on the accrual basis of accounting. The company's accountant wants to prepare a statement of financial position. What is the primary purpose of the accrual basis of accounting?

Answer Options

Correct Answer A. To match revenues and expenses with the period in which they are earned or incurred
B. To match revenues and expenses with the period in which they are paid or received
C. To match revenues and expenses with the period in which they are recorded
D. To match revenues and expenses with the period in which they are budgeted
Correct Answer
A
Correct Option:
To match revenues and expenses with the period in which they are earned or incurred

About This Question

This is Post Utme Ims U 2017 Accounting Question 25. It is one of the objective questions from the 2017 Post Utme Ims U Accounting examination.

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