estion 15 The "matching principle" is used in the Income Statement to report dividends & deferred taxes "revenues when they are legally earned" and "expenses when they were legally consumed" no matter when the actual cash changes hands cost of goods sold only ●"revenues when the cash is actually received" and "expenses when they are actually paid for" no matter when they were legally incurred VERSTE KTM

estion 15 The "matching principle" is used in the Income Statement to report dividends & deferred taxes "revenues when they are legally earned" and "expenses when they were legally consumed" no matter when the actual cash changes hands cost of goods sold only ●"revenues when the cash is actually received" and "expenses when they are actually paid for" no matter when they were legally incurred VERSTE KTM

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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