The matching principle is the principle that states:
A) All costs that are used to generate revenue are recorded in the period the revenue is recognized.
B) All transactions are recorded at the exchange price.
C) The business is separate from its owners.
D) The business will continue to operate indefinitely unless there is evidence to the contrary.
Correct Answer:
Verified
Q41: The components of retained earnings include assets,expenses,and
Q42: Closing entries transfer the balances of all
Q43: Which of the following accounting principles states
Q45: Which accounting principle states that a company
Q48: A customer purchased a drill press on
Q49: The closing entry for expense accounts includes
Q50: The closing entry for revenue accounts includes
Q51: If the beginning balance of Retained Earnings
Q55: After closing entries are prepared,the balance of
Q59: The post-closing trial balance is a list
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