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Principal and interest expenditures on general long-term debt should be recognized in the period That the costs are incurred. Prior to the year in which
Principal and interest expenditures on general long-term debt should be recognized in the period
- That the costs are incurred.
- Prior to the year in which they are due, i.e., when they become short-term debt.
- That they are legally due and payable.
- That they are paid.
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Financial Accounting A Global Perspective
Authors: Robert Libby, Patricia Libby, Daniel G Short
5th Edition
0071107746, 978-0071107747
