O-LevelAccountingAccounting principles and policies7707/11 · May/June 2015 · Q301 Mark

The payment of an insurance premium was entered in the cash book and in the insurance account. Which accounting principle was applied?

Aaccounting year

Bdual aspect

Cmatching (accruals)

Dmateriality

✓ 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, May/June 2015 Paper 1 Variant 1, question 30.

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