Under the accrual basis of accounting,the ________ recognition ("matching")principle requires that expenses be recognized in the same period as the related revenues.
A)expense
B)revenue
C)cost
D)separate

Question

Quizplus · Accepted Answer

The expense recognition principle ("matching")is the practice under accrual basis accounting to record expenses in the same period as the revenues they generate,not necessarily the period in which cash is paid for them.

Under the Accrual Basis of Accounting,the ________ Recognition ("Matching")principle Requires