Matching
Match the expense recognition principles to their corresponding expenses by placing the appropriate letter in the space provided.
Premises:
Amortization
Sales commissions
Cost of goods sold
Administrative salaries
Allocation of prepaid insurance
Utilities
Product warranty costs
Depreciation
Transportation-out
Travel and entertainment
Responses:
association of cause and effect
systematic and rational allocation
immediate recognition
Correct Answer:
Premises:
Responses:
Amortization
Sales commissions
Cost of goods sold
Administrative salaries
Allocation of prepaid insurance
Utilities
Product warranty costs
Depreciation
Transportation-out
Travel and entertainment
Premises:
Amortization
Sales commissions
Cost of goods sold
Administrative salaries
Allocation of prepaid insurance
Utilities
Product warranty costs
Depreciation
Transportation-out
Travel and entertainment
Responses:
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