Neco 2022 Financial Accounting Question 40

Practice objective / multiple choice question 40 from the 2022 Neco Financial Accounting examination.

Neco 2022 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 40 NECO • 2022 • FINANCIAL_ACCOUNTING • objective

State the accounting concept that requires expenses to be recognised in the same period as the revenues they help generate.

Answer Options

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

About This Question

This is Neco 2022 Financial Accounting Question 40. It is one of the objective questions from the 2022 Neco Financial Accounting examination.

Difficulty level: Easy .

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