The accounting principle that ensures all expenses are recorded during the period when they are incurred and offsets those expenses against the revenues of the period is called the ________ principle
A) comparison
B) accrual
C) matching
D) revenue recognition
C
You might also like to view...
The objectives of computer-aided design (CAD) and computer-aided engineering (CAE) are all of the following except:
a. improve design productivity b. reduce design lead time c. increase redundant design effort d. enhance design quality
Define the three levels of planning and their respective strategies. Give an example of a strategy that can be applied at each level.
What will be an ideal response?
Answer the following statement(s) true (T) or false (F)
1. Concern about the ethics of leaders is a relatively recent phenomenon. 2. Ethical theory provides a system of rules or principles that guide us in making decisions about what is right or wrong. 3. Deontological theory focuses primarily on the consequences (ends or purposes) of an individual’s actions. 4. The ethics of leaders have little impact on the ethical climate of their organizations. 5. Virtue-based theories of ethics focus on the conduct of leaders rather than who they are as people.
When reviewing factual determinations of an administrative agency, the courts must always use the "arbitrary and capricious" test
Indicate whether the statement is true or false