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O-LevelAccountingAccounting principles and policiesOct/Nov 2010 · Q301 Mark

Assets and liabilities are recorded in the accounts at the actual amount of the transaction. Which accounting principle is being applied? A accounting entity B consistency C historical cost D money measurement

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2010). The mark or mark type is shown in brackets.

[1] C

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About this question

Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Structured question, 1 mark.
Source: O-Level Accounting, Oct/Nov 2010 Variant 1, question 30.

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