O-LevelAccountingAccounting principles and policies7707/12 · Oct/Nov 2020 · Q331 Mark

The special skills of the employees are not recorded in the financial statements of a business. Which accounting principle is being applied?

Ahistoric cost

Bmateriality

Cmoney measurement

Drealisation

✓ Correct answer

C: money measurement

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2020 Paper 1 Variant 2, question 33.

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