PLZ ANSWER ALL THE QUESTIONS

MC Qu. 02-37 The matching principle requires that expenses... The matching principle requires that expenses be recognized: Multiple Choice in the same period in which all the assets are used up. in the same period in which the revenue generated by these expenses is recognized. when the costs are paid by the entity. oo in the same period in which the revenue generated by these expenses is received. MC Qu. 02-43 The best measure of a firms... The best measure of a firm's sustainable income is: Multiple Choice O income from continuing operations. Income before income tax. o income before unusual items and change in accounting principle. o net income. MC Qu. 02-49 Which of the following best describes... Which of the following best describes the reporting for discontinued operations? Multiple Choice Discontinued operations will not generate future cash flows and thus the results of transactions related to operations the firm intends to discontinue, or has already discontinued, must be reported separately from other income items on the income statement. O Discontinued operations presentation is used only when a component of an entity has been sold. There are 4 criteria that must be met to classify a disposal group as held for sale. Discontinued operations may generate future cash flows and thus there will be results of transactions related to operations the firm intends to discontinue. If the firm does generate future transactions before disposing of the disposal group, it will report that revenue in continuing operations revenue