Matchig concept
Accrual concept
Prudence concept
Substance over form concept
✅ The correct answer is D.
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.
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.