Multiple Choice
The matching principle states that
A) expenses should be matched with specific jobs.
B) expenses should be matched with revenues they generate.
C) revenues should be recorded in the period in which the payment is received.
D) expenses should be matched to assets which generated the expenses.
Correct Answer:
Verified
Correct Answer:
Verified
Q31: When production volume exceeds sales volume,net income
Q32: When using variable costing,period costs consist of<br>A)selling
Q33: The cost accumulation method required by generally
Q34: In variable costing,fixed manufacturing overhead is treated
Q35: The difference between absorption and variable costing
Q37: When the<br>A)operating income is higher under absorption
Q38: Mixed costs must be divided into which
Q39: For each item below,identify whether the item
Q40: Absorption costing is also referred to as<br>A)variable
Q41: The underlying principle that absorption costing satisfies