Concepts and principles

Question 1 of 10

The realisation concept states that revenue is recognised when

Question 2 of 10

The prudence concept requires accountants to

Question 3 of 10

Accounting is mainly concerned with

Question 4 of 10

Recording assets at their original cost follows the

Question 5 of 10

The dual aspect concept states that

Question 6 of 10

The concept that assumes a business will continue operating for the foreseeable future is the

Question 7 of 10

The concept that every transaction has two aspects is the

Question 8 of 10

Which statement of the accounting equation is correct?

Question 9 of 10

Treating the owner and the business as separate is the

Question 10 of 10

Providing for doubtful debts is an application of the