Matching Concept – NBC Institute

FA – Nov 2021 – L1 – SA – Q18 – Accruals and prepayments

This question identifies the fundamental accounting concept related to prepaid and accrued expenses.

Question

Adjustments are made for prepaid and accrued expenses in order to comply with which fundamental accounting concept?
A. Matching
B. Prudency
C. Aggregation
D. Materiality
E. Consistency

Answer

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Tags: Accrued Expenses, Matching Concept, Multiple Choice, Prepaid Expenses
Level: Level 1

Topic: Accruals and prepayments
Series: NOV 2021

FA – May 2024 – L1 – SA – Q1 – Accounting Concepts

Identifies the accounting concept related to prepaid and accrued expenses adjustments.

Question

In the process of drawing up financial statements, adjustments are made for prepaid expenses and accrued expenses in order to comply with which fundamental accounting concept?

A. Matching
B. Prudency
C. Aggregation
D. Accrual
E. Consistency

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting principles, Accrual Accounting, Matching Concept
Level: Level 1

Topic: Accounting Concepts
Series: MAY 2024

FA – Nov 2021 – L1 – SA – Q18 – Accruals and prepayments

This question identifies the fundamental accounting concept related to prepaid and accrued expenses.

Question

Adjustments are made for prepaid and accrued expenses in order to comply with which fundamental accounting concept?
A. Matching
B. Prudency
C. Aggregation
D. Materiality
E. Consistency

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accrued Expenses, Matching Concept, Multiple Choice, Prepaid Expenses
Level: Level 1

Topic: Accruals and prepayments
Series: NOV 2021

FA – May 2024 – L1 – SA – Q1 – Accounting Concepts

Identifies the accounting concept related to prepaid and accrued expenses adjustments.

Question

In the process of drawing up financial statements, adjustments are made for prepaid expenses and accrued expenses in order to comply with which fundamental accounting concept?

A. Matching
B. Prudency
C. Aggregation
D. Accrual
E. Consistency

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting principles, Accrual Accounting, Matching Concept
Level: Level 1

Topic: Accounting Concepts
Series: MAY 2024

Question Tag: Matching Concept

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FA – Nov 2021 – L1 – SA – Q18 – Accruals and prepayments

This question identifies the fundamental accounting concept related to prepaid and accrued expenses.

FA – May 2024 – L1 – SA – Q1 – Accounting Concepts

Identifies the accounting concept related to prepaid and accrued expenses adjustments.

FA – Nov 2021 – L1 – SA – Q18 – Accruals and prepayments

This question identifies the fundamental accounting concept related to prepaid and accrued expenses.

FA – May 2024 – L1 – SA – Q1 – Accounting Concepts

Identifies the accounting concept related to prepaid and accrued expenses adjustments.

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Question Tag: Matching Concept

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FA – Nov 2021 – L1 – SA – Q18 – Accruals and prepayments

This question identifies the fundamental accounting concept related to prepaid and accrued expenses.

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FA – May 2024 – L1 – SA – Q1 – Accounting Concepts

Identifies the accounting concept related to prepaid and accrued expenses adjustments.

You're reporting an error for "FA – May 2024 – L1 – SA – Q1 – Accounting Concepts"

FA – Nov 2021 – L1 – SA – Q18 – Accruals and prepayments

This question identifies the fundamental accounting concept related to prepaid and accrued expenses.

You're reporting an error for "FA – Nov 2021 – L1 – SA – Q18 – Accruals and prepayments"

FA – May 2024 – L1 – SA – Q1 – Accounting Concepts

Identifies the accounting concept related to prepaid and accrued expenses adjustments.

You're reporting an error for "FA – May 2024 – L1 – SA – Q1 – Accounting Concepts"

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