Multiple Choice
Recognizing revenue when it is earned and not when cash is received and recognizing expenses when the related goods or services are used rather than when they are paid for is called:
A) Revenue recognition.
B) Accrual accounting.
C) Conservatism.
D) Matching.
Correct Answer:
Verified
Correct Answer:
Verified
Q33: A trial balance that balances provides proof
Q34: All of the following statements are true
Q35: Posting is the process of:<br>A)Transferring debit and
Q36: Rules of debit and credit as applied
Q37: In a ledger,debit entries cause:<br>A)Increases in owners'
Q39: Which of the following is not a
Q40: In accounting,the terms debit and credit indicate,respectively:<br>A)Increase
Q41: Which of the following accounts normally contain
Q42: All of the following statements are true
Q43: The concept of applying the accounting treatment