MCQ 4 MARKS Which principle requires that expenses are recorded in thesame period as the revenue they help generate?a) Revenue Recognition Principleb) Cost Principlec) Matching Principled) Consistency Principle

Explanation of Matching Principle: The Matching Principle is an accounting rule that ensures…

Answered: Which principle requires that expenses…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter6: Work Sheet And Adjusting Entries For A Service Business

Section6.2: Planning Adjusting Entries On A Work Sheet

Problem 1AYU

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Which of the following principles matches expenses with associated revenues in the period in which the revenues were generated? A. revenue recognition principle B. expense recognition (matching) principle C. cost principle D. full disclosure principle
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Which of the following principles matches expenses with associated revenues in the period in which the revenues were generated? Group of answer choices 1.revenue recognition principle 2.expense recognition (matching) principle 3.cost principle 4.full disclosure principle
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Question: Which accounting principle states that revenue should be recognized when it is earned and expenses when they are incurred? a. Matching principle b. Revenue recognition principle c. Conservatism principle d. Time period principle
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Which principle requires that expenses are recorded in the same period as the revenue they help generate? a) Revenue Recognition Principle b) Cost Principle c) Matching Principle d) Consistency Principle