a dance studio accepts $1,500 to provide a series of dance lessons to a youth group during the month of July. The studio decides to record the revenue in July. The studio decided to record the July expenses of rent, utilities and salaries in Augus vhen it pays for them. One or both of these decisions: Multiple Choice violate principles of accrual accounting. violate the matching principle. violate the accounting equation.

a dance studio accepts $1,500 to provide a series of dance lessons to a youth group during the month of July. The studio decides to record the revenue in July. The studio decided to record the July expenses of rent, utilities and salaries in Augus vhen it pays for them. One or both of these decisions: Multiple Choice violate principles of accrual accounting. violate the matching principle. violate the accounting equation.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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