Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which accounting principle states that expenses should be recognized in the period they are incurred, regardless of when the cash is paid? a ) Matching

Which accounting principle states that expenses should be recognized in the period they are incurred, regardless of when the cash is paid?
a) Matching principle
b) Revenue recognition principle
c) Going concern principle
d) Accrual principle

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

List the general rights of common shareholders.

Answered: 1 week ago

Question

Be familiar with the different types of network circuits and media

Answered: 1 week ago