Q153
Land on lease should be shown in Blance sheet contrary to the fact that the company does not own that piece of land is the implementation of which accounting concept?
A.
Matchig concept
B.
Accrual concept
C.
Prudence concept
D.
Substance over form concept
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Land on lease should be shown in Blance sheet contrary to the fact that the company does not own that piece of land is the implementation of Substance over form concept.