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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 74
The expense recognition principle ("matching") controls
A) Where on the income statement expenses should be presented.
B) When revenues are recognized on the income statement.
C) The ordering of current assets and current liabilities on the balance sheet.
D) When costs are recognized as expenses on the income statement.
A) Where on the income statement expenses should be presented.
B) When revenues are recognized on the income statement.
C) The ordering of current assets and current liabilities on the balance sheet.
D) When costs are recognized as expenses on the income statement.
Explanation
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Expense principle: The principle suggest...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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