Gce Model Questions Vol1 2021 Financial Accounting Question 34

Practice objective / multiple choice question 34 from the 2021 Gce Model Questions Vol1 Financial Accounting examination.

Gce Model Questions Vol1 2021 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 34 GCE_MODEL_QUESTIONS_VOL1 • 2021 • FINANCIAL_ACCOUNTING • objective

A company records revenue only when cash is received, ignoring sales made on credit. Which fundamental accounting concept is being violated?

Answer Options

A. Matching principle
B. Revenue recognition principle
C. Cash basis
Correct Answer D. Accruals concept
Correct Answer
D
Correct Option:
Accruals concept

About This Question

This is Gce Model Questions Vol1 2021 Financial Accounting Question 34. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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