Neco Model Questions Vol1 2020 Financial Accounting Question 45

Practice objective / multiple choice question 45 from the 2020 Neco Model Questions Vol1 Financial Accounting examination.

Neco Model Questions Vol1 2020 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 45 NECO_MODEL_QUESTIONS_VOL1 • 2020 • FINANCIAL_ACCOUNTING • objective

A company records revenue only when cash is received, even if the service has already been performed. Which fundamental accounting concept is being violated?

Answer Options

A. Cash (revenue‑recognition) concept
B. Matching concept
Correct Answer C. Accrual (revenue‑recognition) concept
D. Conservatism concept
Correct Answer
C
Correct Option:
Accrual (revenue‑recognition) concept

About This Question

This is Neco Model Questions Vol1 2020 Financial Accounting Question 45. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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