Accounting Multiple Choice Question – 26 February 2022

The employees of a successful Staffordshire company are skilled and efficient.

Although they are regarded as a human asset of the company, no value for them has been recorded in the financial statements of the business.

Which accounting concept has been applied?

Select ONE answer:

1. Duality
2. Money measurement
3. Realisation
4. Business Entity

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 2

1. Not correct
2. Correct
3. Not correct
4. Not correct

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