Solved

It Is True That

Question 15

Multiple Choice

It is true that


A) profit is the excess in cash inflows from income over the cash outflows from expenses.
B) income is recognised when the economic benefits are certain and can be reliably measured.
C) whether a transaction is made with cash or credit has no effect on the profit of an entity.
D) income is only recognised when cash is received

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents