Which principle dictates that efforts (expenses) be recorded with accomplishments (revenues)?
A)Historical cost principle.
B)Periodicity principle.
C)Revenue recognition principle.
D)Expense recognition principle.

Question

Quizplus · Accepted Answer

The expense recognition principle, also known as the matching principle, dictates that expenses should be recorded in the same period as the revenues they help to generate, ensuring that financial statements reflect the true financial performance of a company.

Which Principle Dictates That Efforts (Expenses) Be Recorded with Accomplishments