- This topic has 1 reply, 2 voices, and was last updated 3 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Eve started a business on 1 January 20X2 selling used cars. During the year to 31 December 20X2, Eve purchased 30 cars and sold 20 cars.
In SOPL for the year to 31 December 20×2, Eve included the cost of 26 cars as part of the cost of sales and treated the remaining 4 cars as closing inventory.
What accounting concept is Eve applying in F/Ss to 31 Dec 20X2?
a. Comparability
b. Timeliness
c. Consistency
d. AccrualsI think the answer is (c).
Am I right, sir? answer my question pls.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.