JAMB Accounting 2009 Objective — Question 2
Question 2 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.
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2. The accounting convention which states that the performance of a business should be determined by matching all expenses against all revenue is
- A. accrualsCorrect
- B. materiality
- C. objectivity
- D. periodicity
Explanation
The accrual concept states that all expenses and revenue should be matched with the year in which they are incurred.
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