Question

sale is recognised on the basis of cash memo or invoice . state the accounting concept or assumption. answer in one words​

Answer 1

Answer:

cash memo for offer sale

Answer 2

Sale is recognised on the basis of cash memo or invoice. The accounting concept or assumption here is Verifiable objective concept.

Explanation for the answer:

• Verifiable objective concept also called objectivity principle.
• This principle states that the accounting information should be verifiable and should be free from any personal bias.
• Every transaction should be based or evidenced on source documents such as cash memo, invoices, sales bills, etc.
• These evidence should be objective which means that they should state the facts as they are, without any false information or bias towards either side.

(#SPJ3)