The matching principle requires that: a) Expenses are recorded when cash is paid b) Expenses are matched with revenues in the period they are incurred c) Assets and liabilities match in total d) Revenues are recorded when cash is received

The matching principle requires that: a) Expenses are recorded when cash is paid b) Expenses are matched with revenues in the period they are incurred c) Assets and liabilities match in total d) Revenues are recorded when cash is received

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 9GI: Give an example and explanation for each of the following differences between when revenues are...

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The matching principle requires that:
a) Expenses are recorded when cash is paid
b) Expenses are matched with revenues in the period they are incurred
c) Assets and liabilities match in total
d) Revenues are recorded when cash is received

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