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Question Practice

Which accounting principle justifies the need to adjust for income received in advance?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

Which accounting principle jus...

Single Answer MCQ
Q-00054327

Which accounting principle justifies the need to adjust for income received in advance?

1

Matching principle

2

Revenue recognition principle

3

Accrual basis of accounting

4

Conservatism principle

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How are accrued incomes treated in financial statements?

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