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 20x2, 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. Accruals
I think the answer is (c).
Am I right, sir? answer my question pls.
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Accounting concept
4y ago#1Why are you attempting questions for which you do not have the answer? You should be using a Revision Kit from one of the ACCA Approved Publishers - they have answers!
The answer is 'd'.
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