Noon LLC has business in Adham. The sales manager is not confident about receiving the money and suggests you not the record in the accounts sales of goods until the money is finally received. You are required to explain him that the business should record all the information which are important to show the results of the business. This concept is known as a. Historical Cost Concept. b. Dual Aspect Concept c. Entity Concept d. Realization Concept
Noon LLC has business in Adham. The sales manager is not confident about receiving the money and suggests you not the record in the accounts sales of goods until the money is finally received. You are required to explain him that the business should record all the information which are important to show the results of the business. This concept is known as a. Historical Cost Concept. b. Dual Aspect Concept c. Entity Concept d. Realization Concept
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter2: Financial Statements And The Annual Report
Section: Chapter Questions
Problem 2.2P: Costs and Expenses The following costs are incurred by a retailer: Display fixtures in a retail...
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Noon LLC has business in Adham. The sales manager is not confident about receiving the money and suggests you not the record in the accounts sales of goods until the money is finally received. You are required to explain him that the business should record all the information which are important to show the results of the business. This concept is known as
a.
Historical Cost Concept.
b.
Dual Aspect Concept
c.
Entity Concept
d.
Realization Concept
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