Which accounting principle states that expenses should be recorded in the period in which they are incurred? a) Matching principleb) Consistency principlec) Revenue recognition principled) Conservatism principle

Which accounting principle states that expenses should be recorded in the period in which they are incurred? a) Matching principleb) Consistency principlec) Revenue recognition principled) Conservatism principle

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 12MC: Which of the following principles matches expenses with associated revenues in the period in which...

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Question

Which accounting principle states that expenses should be recorded in the period in which they are incurred?

a) Matching principle
b) Consistency principle
c) Revenue recognition principle
d) Conservatism principle

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