O-LevelAccountingAccounting principles and policies7707/12 · May/June 2015 · Q291 Mark

'A business's financial statements should include all the costs and income for the period to which they relate.' Which accounting principle is referred to in this statement?

Aaccounting year

Bconsistency

Cprudence

Dmatching (accruals)

✓ Correct answer

D: matching (accruals)

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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 2, question 29.

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'A business's financial statements should include all the costs and income for the period to which they relate.' Which accounting principle is referred to in this statement?

✓ Correct answer

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