Royal Furnishing Company received an order to supply furniture worth OMR 80,000 in the year 2019. They supplied furniture worth OMR 30,000 in the year 2019 and furniture worth OMR 50,000 were supplied in the year 2020. How much amount will be recorded in the year 2019 if Royal Furnishing Company follows Realization Concept? O a. OMR 20,000 O b. OMR 30,000 OC OMR 50,000 O d. OMR 80,000
Royal Furnishing Company received an order to supply furniture worth OMR 80,000 in the year 2019. They supplied furniture worth OMR 30,000 in the year 2019 and furniture worth OMR 50,000 were supplied in the year 2020. How much amount will be recorded in the year 2019 if Royal Furnishing Company follows Realization Concept? O a. OMR 20,000 O b. OMR 30,000 OC OMR 50,000 O d. OMR 80,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Royal Furnishing Company received an order to supply furniture worth OMR 80,000 in the year 2019. They supplied furniture worth OMR 30,000 in
the year 2019 and furniture worth OMR 50,000 were supplied in the year 2020. How much amount will be recorded in the year 2019 if Royal
Furnishing Company follows Realization Concept?
O a. OMR 20,000
O b. OMR 30,000
O C OMR 50,000
O d. OMR 80,000
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