Concepts and principles

Question 1 of 10

The concept that requires revenue to be matched with the expenses incurred to earn it is the

Question 2 of 10

Which group uses accounting information to decide whether to lend to a business?

Question 3 of 10

The concept that every transaction has two aspects is the

Question 4 of 10

The prudence concept requires accountants to

Question 5 of 10

Revaluing land upwards and crediting profit would breach the

Question 6 of 10

Providing for doubtful debts is an application of the

Question 7 of 10

Recording assets at their original cost follows the

Question 8 of 10

The dual aspect concept states that

Question 9 of 10

The realisation concept states that revenue is recognised when

Question 10 of 10

Every transaction has two effects, one debit and one credit. This is the