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Model Paper 4 — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountModel Paper 41 Mark
MCQ
Income is measured on the basis of:
  • A
    Consistency Concept
  • B
    Cost Concept
  • C
    revenue recognition
  • ✓
    Matching Concept
✓

Answer

Correct option: D.
Matching Concept
D
Matching Concept
Explanation:
Income is measured on the basis of Matching Concept. The purpose of the matching concept is to avoid misstating earnings for a period.

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