O-LevelAccountingAccounting principles and policies7707/11 · Oct/Nov 2011 · Q301 Mark

John purchased a non-current asset on credit. He made an entry in both the non-current asset account and the creditor's account. Which accounting principle did he apply?

Aconsistency

Bdual aspect

Cgoing concern

Dmatching

✓ Correct answer

B: dual aspect

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2011 Paper 1 Variant 1, question 30.

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