Recording Revenue When a Sale Is Made Most Directly Relates

question 47

Multiple Choice

Recording revenue when a sale is made most directly relates to which concept?

• A)Going concern concept
• B)Periodicity concept
• C)Matching concept
• D)Adequate disclosure concept

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Definitions:

Public Sector

Part of the economy composed of both public services and public enterprises, owned and operated by the government.

Voting Irregularities

Occurrences in the electoral process that deviate from legal or ethical standards, including but not limited to fraud, suppression, and miscounting.

Representative Democracy

A form of democracy in which citizens elect officials to represent them in governmental decisions and policymaking.

Principals

In economics and finance, a principal refers to an individual or entity that owns a business or transaction, and has the primary responsibility.