Accountancy, asked by erdigvijaychaudhary, 6 months ago

Q2. An accountant has recorded advance received against sale of goods as ‘advance against sale’ and not sales. Is he correct in doing so? If yes name the accounting concept which requires so?

Answers

Answered by thathmashreeuv

4

Answer:

An accountant has recorded advance received against sale of goods as 'advance against sale' and not sales. Is he correct in doing so? If yes name the accounting concept which requires so?

answer. Only financial transactions are recorded in accounting'.

Answered by droplets75

1

Answer:

Yes, Revenue Recognition Concept

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