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  5. Revenue is recognize...

Revenue is recognized in the profit and loss account as soon as a

Accounts - Principles of Accounts
WAEC 2006
Revenue is recognized in the profit and loss account as soon as a
  • A. debtor pays what is due from him
  • B. sale of goods takes place and money is received
  • C. sale of goods takes place whether or not money is received
  • D. sales of a fixed asset takes place
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Correct Answer: Option C
Explanation
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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