Two main accounting principles used in accrual accounting are matching and full closure.
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Q3: The cash basis of accounting recognizes revenues
Q4: A fiscal year refers to an organization's
Q6: Adjusting entries are necessary so that asset,
Q7: Under the cash basis of accounting, no
Q9: The cash basis of accounting commonly results
Q10: The matching principle requires that expenses get
Q11: The matching principle does not aim to
Q14: Recording expenses early overstates current-period income; recording
Q16: A company's fiscal year must correspond with
Q17: The accrual basis of accounting recognizes expenses
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