The revenue/expense approach emphasizes:
A)Recognition of revenues.
B)Recognition of expenses.
C)The income statement.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

The revenue/expense approach emphasizes both the recognition of revenues and the recognition of expenses in order to prepare the income statement. Therefore, option D, which states that all of the above are correct, is the best choice.

The Revenue/expense Approach Emphasizes