The matching principle requires:
A) that expenses should be recognized on periodic basis.
B) that expenses should be split between Cost of Goods Sold (sometimes called Cost of Sales) and Selling Expenses.
C) that current assets and current liabilities are stated in a certain order on the balance sheet.
D) that costs are recognized as expenses in the same period as the revenues they generate.
Correct Answer:
Verified
Q61: Creative Ads Inc.,provides $5 million of advertising
Q62: Cash basis accounting measures financial performance very
Q65: The Rainbow House Painting Company has been
Q66: Net income of a company is the
Q68: If expenses grow faster than revenues compare
Q69: Costs that benefit future periods are reported
Q83: This month,a company performed $517,000 of services
Q84: On the last day of the current
Q112: The main purpose of preparing a trial
Q113: In September,a customer signed a contract to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents