The realisation concept determines when goods sent on credit to customers are to be included in the
Question:
The realisation concept determines when goods sent on credit to customers are to be included in the sales figure for the purpose of computing the profit or loss for the accounting period. Which of the following tends to be used in practice to determine when to include a transaction in the sales figure for the period. When the goods have been:
a. Dispatched
b. Invoiced
c. Delivered
d. Paid for
Give reasons for your answer.
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Related Book For
Accountancy Financial Accounting Part 1 Textbook For Class 11
ISBN: 9788174505071
1st Edition
Authors: NCERT
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