Direct cause-and-effect relationships between revenues and expenses can usually be demonstrated.
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Q1: Net income results when expenses exceed revenues.
Q7: The matching rule is most closely related
Q8: The continuity assumption states that the business
Q9: Net income + Expenses = Revenues.
Q10: The primary purpose of an expense is
Q11: When there is no direct connection between
Q12: Net income can be used to assess
Q18: Accounting periods of greater than a year
Q19: If a company is expected to survive,it
Q20: Revenue is equal to the cash received
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