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 theaccounting 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 havebeen:a. dispatched b. invoiced c. delivered d. paid forGive reasons for your answer.
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 theaccounting 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 havebeen:a. dispatched b. invoiced c. delivered d. paid forGive reasons for your answer.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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