The expense recognition principle states that expenses should be matched with revenues.Another way of stating the principle is to say that:
A)assets should be matched with liabilities.
B)efforts should be matched with accomplishments.
C)dividends should be matched with stockholder investments.
D)cash payments should be matched with cash receipts.

Question

Quizplus · Accepted Answer

The expense recognition principle, also known as the matching principle, requires that expenses be recorded in the same period as the revenues they help to generate, effectively matching efforts (expenses) with accomplishments (revenues).

The Expense Recognition Principle States That Expenses Should Be Matched