Multiple Choice
The matching principle in accounting requires the matching of:
A) revenue earned with the assets used to produce the revenue.
B) revenue earned with the assets used less the liabilities incurred.
C) revenue earned with the liabilities used to produce the revenue.
D) revenue earned with the expenses incurred to produce the revenue.
Correct Answer:
Verified
Correct Answer:
Verified
Q13: The adjusted trial balance proves that:<br>A)all adjusting
Q14: The revenue recognition principle states that revenues
Q15: Respectively, Inventory, Accounts Receivable, and Accounts Payable
Q16: A machine with a salvage value of
Q17: Using the adjusted trial balance, the first
Q19: Recording Prepaid Rent would be an example
Q20: Accounts Receivable and Accounts Payable are examples
Q21: Salary expense is $2,600 per day, Monday
Q22: All fixed assets are subject to depreciation.
Q23: The adjusted trial balance is the basis