Public utilities' balance sheets list the plant assets before the current assets. This is acceptable under which accounting principle/guideline?

Select one:

a. Conservatism

b. Industry Practices

c. Cost

A large company purchases a $250 digital camera and expenses it immediately instead of recording it as an asset and depreciating it over its useful life. This practice may be acceptable because of which principle/guideline?

Select one:

a. Materiality

b. Cost

c. Matching

A corporation pays its annual property tax bill of approximately $12,000 in one payment each December 28. During the year, the corporation's monthly income statements report Property Tax Expense of $1,000. This is an example of which accounting principle/guideline?

Select one:

a. Monetary Unit

b. Matching

c. Conservatism

A company sold merchandise of $8,000 to a customer in December. The company's sales terms require the customer to pay the company in 30 days. The company's income statement reported the sale in December. This is proper under which accounting principle/guideline?

Select one:

a. Revenue Recognition

b. Monetary Unit

c. Full Disclosure

Accrual accounting is based on this principle/guideline.

Select one:

a. Matching

b. Full Disclosure

c. Cost