EBK INTERMEDIATE ACCOUNTING
10th Edition
ISBN: 9781260481976
Author: SPICELAND
Publisher: MCG COURSE
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General accounting question and right solution
The useful service life of the equipment is estimated to be 8 years, with zero salvage value.
4. Which principle requires expenses to be recorded in the same period as the revenues they help generate?
A) Cost PrincipleB) Matching PrincipleC) Revenue Recognition PrincipleD) Full Disclosure Principle
explanation.
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