Neco 2021 Financial Accounting Question 22

Practice objective / multiple choice question 22 from the 2021 Neco Financial Accounting examination.

Neco 2021 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 22 NECO • 2021 • FINANCIAL_ACCOUNTING • objective

Which fundamental accounting concept is violated when a company fails to record depreciation expense on its fixed assets?

Answer Options

A. The revenue recognition concept is violated.
B. The prudence concept is violated.
C. The historical cost concept is violated.
Correct Answer D. The matching concept is violated.
Correct Answer
D
Correct Option:
The matching concept is violated.

About This Question

This is Neco 2021 Financial Accounting Question 22. It is one of the objective questions from the 2021 Neco Financial Accounting examination.

Difficulty level: Easy .

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