Multiple Choice
The accounting principle that ensures all expenses are recorded during the period when they are incurred and offsets those expenses against the revenues of the period is called the ________ principle.
A) comparison
B) accrual
C) matching
D) revenue recognition
Correct Answer:
Verified
Correct Answer:
Verified
Q74: Financial statements are prepared from the balances
Q75: Accumulated Depreciation is a(n)_ account and carries
Q76: West Electrical Company performed services of $8,000
Q77: Unearned revenue is recorded when _.<br>A) revenue
Q78: The Hartman Dental Company prepays the rent
Q80: The accountant for Eagle Financial Services Company
Q81: The revenue recognition principle requires companies to
Q82: The liability created when a business collects
Q83: Sail Away,a cruise industry magazine,collected $480,000 in
Q84: On December 31,2018,interest of $1,500 has