A

Admin • 802.91K Points
Coach

Q. Which principle helps in ascertaining the correct profit by considering only actual income and expenses?

  • (A) Going Concern
  • (B) Consistency
  • (C) Accrual
  • (D) Business Entity
  • Correct Answer - Option(C)
  • Views: 2
  • Filed under category Accounting
  • Hashtags:
Explanation by: Admin
Accrual concept ensures that revenues and expenses are recognized when they are earned or incurred.

You must be Logged in to update hint/solution

Discusssion

Login to discuss.

Be the first to start discuss.