WAEC Accounting 2012 Objective — Question 24
Question 24 of 50 from the West African Examinations Council (WAEC) Accounting 2012 Objective paper, with the correct answer and a full explanation.
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The concept which establishes the rule for the periodic recognition of revenue as soon as it is capable of objective measurement is
- A. going concern
- B. equity
- C. consistency
- D. realizationCorrect
Explanation
The realization concept establishes the rule for the periodic recognition of revenue as soon as it is capable of objective measurement.
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