QUESTION 25 Which of the following statements about the matching principle is TRUE? 1. An expenditure...

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QUESTION 25 Which of the following statements about the matching principle is TRUE? 1. An expenditure is of benefit only in the period in which it is made 2. An expense represents a decrease in an asset or an increase in a liability associated with the incurrence of a cost 3. Advertising costs are typically expensed over the periods in which they are expected to have a positive effect on sales revenue 4. One consequence of the matching principle is that an item of cost will remain as an asset on the Balance Sheet until the item is used or sold 1 points Save Answer QUESTION 25 Which of the following statements about the matching principle is TRUE? 1. An expenditure is of benefit only in the period in which it is made 2. An expense represents a decrease in an asset or an increase in a liability associated with the incurrence of a cost 3. Advertising costs are typically expensed over the periods in which they are expected to have a positive effect on sales revenue 4. One consequence of the matching principle is that an item of cost will remain as an asset on the Balance Sheet until the item is used or sold 1 points Save Answer