Under the expense recognition principle:

Name: Under the expense recognition principle:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The expense recognition principle states that expenses should be recognized in the same period as the revenue they help to generate. Expenses are the costs of assets used up in earning revenue, such as salaries, rent, utilities, and supplies. Therefore, choice A is the best answer. Choices B, C, and D are incorrect because they do not accurately describe the expense recognition principle.

Under the Expense Recognition Principle