Profits are recognized when goods are sold. What concept is this? by Sunday | Jun 5 | Accounting WAEC | 0 comments A. realization B. matching C. periodicity D. going concerned Correct Answer: Option A A. realization Users Also Read These:The assumption that a business has perpetual…Goodwill is recognized in partnership accounts when?Revenue is recognized in the profit and loss account…Article 3 of the North Atlantic Charter of 1941…The concept which states that revenue should be…