Match the Items Below by Entering the Appropriate Code Letter

Short Answer

Match the items below by entering the appropriate code letter in the space provided.
A. Time period assumption
B. Fiscal year G. Depreciation
C. Revenue recognition principle
D. Prepaid expenses
E. Matching principle
F. Accrued revenues
H. Accumulated depreciation
I. Accrued expenses
J. Book value
1. A twelve month accounting period
2. Expenses paid before they are incurred
3. Cost less accumulated depreciation
4. Divides the economic life of a business into artificial time periods
5. Efforts are related to accomplishments
6. A contra asset account
7. Recognition of revenue when it is recorded when earned
8. Revenues earned but not yet received
9. Expenses incurred but not yet paid
10. A cost allocation process
Answers to Matching