alleryMatch each revenue recognition / accrual rule with its timing:
A1-A, 2-B, 3-C
B1-B, 2-A, 3-C
C1-C, 2-B, 3-A
D1-A, 2-C, 3-B
Answer & Solution
Correct answer: A. 1-A, 2-B, 3-C
Realisation recognizes revenue on sale. Accrual records when earned/incurred. Cash basis records on physical cash flow.
Keep practising Theory Base of Accounting
Browse all Theory Base of Accounting questions for CBSE Class 11 (Commerce), or explore more Accountancy topics.
Related questions
Match each Accounting Standard body with its mandate:Match each accounting convention with its practice:Match each accounting principle with its operational rule:In accounting, what does the term 'convention' connote?What do Generally Accepted Accounting Principles aim to bring?Which existing tax was subsumed under CGST?Which GST component also covers imports of goods and services?Goods moved from Madhya Pradesh to Rajasthan attract which GST?