INTERMEDIATE ACCOUNTING (ACCT 3200B)
10th Edition
ISBN: 9781307660647
Author: SPICELAND
Publisher: MCG/CREATE
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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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