Accounting Multiple Choice Question – 16 May 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Which of the four fundamental accounting concepts (listed below) is sometimes referred to as the matching concept ….?

Select ONE answer:

  1. the accruals concept.
  2. the prudence concept.
  3. the going concern concept.
  4. the consistency concept.

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Accounting KS5 classes.

The answer is 1

  1. The matching concept is often known as the accruals concept because the accruals concept means that profit is equal to revenues less expenses, that is, expenses are matched (offset) against revenues to give a profit figure.
  2. Not correct
  3. Not correct
  4. Not correct

 

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