All of the following about expense recognition principle are false, except: Oa Itis the basis for preparing adjusting entries that are related to recording prepaid assets and accrued expenses. 14 tis the basis for preparing adjusting entries that are related to recording revenues and receivables. Oc tis the basis for preparing adjusting entries that are related to recording cash and revenues. Od Itis the basis for preparing adjusting entries that are related to recording receivables and accrued expenses.
All of the following about expense recognition principle are false, except: Oa Itis the basis for preparing adjusting entries that are related to recording prepaid assets and accrued expenses. 14 tis the basis for preparing adjusting entries that are related to recording revenues and receivables. Oc tis the basis for preparing adjusting entries that are related to recording cash and revenues. Od Itis the basis for preparing adjusting entries that are related to recording receivables and accrued expenses.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:on
All of the following about expense recognition principle are false, except:
O a
It is the basis for preparing adjusting entries that are related to recording prepaid assets and
accrued expenses.
of
O4 tisthe basis for preparing adjusting entries that are related to recording revenues and
receivables.
It is the basis for preparing adjusting entries that are related to recording cash and revenues,
Od Itis the basis for preparing adjusting entries that are related to recording receivables and
accrued expenses.
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