Neco 2024 Financial Accounting Question 10

Practice objective / multiple choice question 10 from the 2024 Neco Financial Accounting examination.

Neco 2024 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 10 NECO • 2024 • 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

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

About This Question

This is Neco 2024 Financial Accounting Question 10. It is one of the objective questions from the 2024 Neco Financial Accounting examination.

Difficulty level: Easy .

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