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ACCOUNTING

JAMB 2003 - Question 8

Account 2003 JAMB Past Questions - Question 8: Which accounting concept supports the assertion that economic reality takes precedence over legal issues?

Choose the most appropriate option for the gap .

Which accounting concept supports the assertion that economic reality takes precedence over legal issues?

A: Realization concept

B: Substance over form

C: Conservatism

D: Measurement concept

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ACCOUNTING

Account 2003 JAMB Past Questions - Question 8: Which accounting concept supports the assertion that economic reality takes precedence over legal issues?

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Correct Answer

Explanation