Q.which concepts are general guidelines for sound accounting principles
(a) Materiality
(b) Accounting
(c) Consistency
(d) revenue recognition
Answers
Answered by
0
Answer:
D
Explanation:
Revenue Recognition
Answered by
0
The correct answer is Option d (Revenue Recognition).
Explanation:
- This seems to be a widely accepted concept of accountability (GAAP) that specifies the basic circumstances under which revenue or compensation is acknowledged or paid.
- In particular, revenue itself is remembered when a significant incident has happened as well as the compensation appears observable.
Some other choices have no relation with the specified scenario. So choice d is the correct solution to the above.
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