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O-LevelAccountingAccounting principles and policies7707/11 · May/June 2024 · Q351 Mark

William is a trader. He has received an order from James to supply goods on credit. When should William regard the revenue as earned?

Awhen William accepts the order from James
Bwhen William delivers the goods to James
Cwhen William receives full payment for the goods from James
Dwhen William receives the first payment on account from James

✓ Correct answer

B: when William delivers the goods to James

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About this question

Topic
Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2024 Paper 1 Variant 1, question 35.

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