Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

At the year end, a business creates an allowance for irrecoverable debts. Which accounting concepts are being used? 1 the matching / accruals concept 2 materiality 3 prudence 4 substance over form

  • A1 and 2
  • B1 and 3
  • C2, 3 and 4
  • D3 and 4 only

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