Which principle requires that expenses be matched with revenues in the period in which they are incurred? a) Revenue Recognition Principleb) Cost Principlec) Matching Principled) Full Disclosure Principle

Which principle requires that expenses be matched with revenues in the period in which they are incurred? a) Revenue Recognition Principleb) Cost Principlec) Matching Principled) Full Disclosure 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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Which principle requires that expenses be matched with revenues in the period in which they are incurred?

a) Revenue Recognition Principle
b) Cost Principle
c) Matching Principle
d) Full Disclosure Principle

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FINANCIAL/GENERAL ACCOUNTING