The matching principle controls a. where on the income statement expenses should be presented. b. how costs
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The matching principle controls
a. where on the income statement expenses should be presented.
b. how costs are allocated between Cost of Sales (sometimes called Cost of Goods Sold) and general and administrative expenses.
c. the ordering of cunent assets and current liabilities on the balance sheet.
d. when costs are recognized as expenses on the income statement.
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Related Book For
Financial Accounting
ISBN: 9780073208145
5th Edition
Authors: Robert Libby, Patricia Libby, Daniel Short
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