Matching a 1. Already incurred but not yet paid. 2. Portion of the cost of fixed assets that is allocated to expense. B. e 3. Already paid but not yet incurred. 4. Debits an asset account upon payment of cash. 5. Portion of the receivables that may not be collected. 6. Credits an income account upon collection of cash. f 7. Already collected but not yet earned. 8. Debits an expense account upon payment of cash. 9. Already earned but not yet collected. b 10. Credits a liability account upon collection of cash. 11. Upon adjustment, credit an income account for the earned portion. 12. Upon adjustment, credit a liability account for the unearned portion. 13. Upon adjustment, debit an expense account for the used portion. 14. Upon adjustment, debit an asset account for the unused portion. 15. Contains permanent and temporary components. 16. Direct association, Systematic and rational allocation, and immediate recognition. 17. Determination of profit requires that expenses incurred should be subtracted from income earned.

Matching a 1. Already incurred but not yet paid. 2. Portion of the cost of fixed assets that is allocated to expense. B. e 3. Already paid but not yet incurred. 4. Debits an asset account upon payment of cash. 5. Portion of the receivables that may not be collected. 6. Credits an income account upon collection of cash. f 7. Already collected but not yet earned. 8. Debits an expense account upon payment of cash. 9. Already earned but not yet collected. b 10. Credits a liability account upon collection of cash. 11. Upon adjustment, credit an income account for the earned portion. 12. Upon adjustment, credit a liability account for the unearned portion. 13. Upon adjustment, debit an expense account for the used portion. 14. Upon adjustment, debit an asset account for the unused portion. 15. Contains permanent and temporary components. 16. Direct association, Systematic and rational allocation, and immediate recognition. 17. Determination of profit requires that expenses incurred should be subtracted from income earned.

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Description: Please answer all will surely given an upvote. THANK YOU B.Matching1. Already incurred but not yet paid.2. Portion of the cost of fixed assets that is allocated to expense.3. Already paid but not yet incurred.e4. Debits an asset account upon payment

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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