The matching concept leads accountants to select the recognition alternative that produces the lowest amount of net income.
Answer the following statement true (T) or false (F)
False
The matching concept does not lead accountants to select the recognition alternative that produces the lowest amount of net income. Instead, it is an accounting principle of recognizing expenses in the same accounting period as the revenues they produce.
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A partnership is a business owned by two or more people.
Answer the following statement true (T) or false (F)
Tyler's event planning company hired a new marketing assistant who focuses only on long-term organizational goals and objectives, ignoring the functional or operational level aspects of planning. For having a successful marketing planning experience, in which concept should the new assistant be trained?
A. Don't underestimate the implementation part of the plan. B. Stay strategic, but also stay on top of the tactical. C. Give yourself and your people room to fail and try again. D. Utilize input, but don't become paralyzed by information and analysis. E. Stay flexible.
David owns a plot of industrial land. He allows it to be used as a dump site for industrial waste. David eventually finds out that the waste is hazardous
In order to avoid trouble, he sells the land without disclosing to the new owner the issues regarding the hazardous waste. Since David is no longer the owner, will he be subject to investigation in the future? Give reasons for your answer.
Dwight believes that a new phone to be sold by Ear Candy Corporation will become the most widely bought and used phone in the global market. Dwight enters into a contract to buy 500 shares of Ear Candy stock, anticipating an increase in its value. If the price of the stock does not rise, Dwight can recover A) nothing
B) the amount of the purchase price. C) the amount of the purchase price plus the expected increase. D) the amount of the purchase price plus the unexpected decrease.