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The accounting principle that requires the matching of revenues and expenses is called the ......................................................................................... matching concept 1. The expense associated with the decrease in

The accounting principle that requires the matching of revenues and expenses is called the .........................................................................................

matching concept

1. The expense associated with the decrease in economic usefulness of a fixed asset with the passage of time is .............................................................

2. Accumulated depreciation accounts that are offset against fixed asset accounts are .........................................................................................................

3. The updating of accounts at the end of the accounting period is called .....

4. The journal entries made at the end of the accounting period to properly match revenues and expenses are called ......................................................

5. Payments that have been initially recorded as assets but are expected to become expenses through the normal operations of the business are called .....................................................................................................................

6. Revenues that have been earned but have not been recorded in the accounts are called .............................................................................................

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