O-LevelAccountingAccounting principles and policies7707/12 · May/June 2022 · Q341 Mark

'Revenue should only be regarded as earned when the legal title of goods and services passes from the seller to the buyer.' To which accounting principle does this statement refer?

Agoing concern

Bmatching

Cmoney measurement

Drealisation

✓ Correct answer

D: realisation

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2022 Paper 1 Variant 2, question 34.

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