AIS is an important area of study for future accountants because a well-designed AIS can respond to many elements of the conceptual framework.Which of the following best pairs an element of the conceptual framework with a specific example of that element?

Question

Quizplus · Accepted Answer

Matching is the element of the conceptual framework that requires expenses to be matched with the revenues that they generate. Land is not a depreciable asset, so it should not be subject to depreciation expense, which would violate the matching principle.

AIS Is an Important Area of Study for Future Accountants