Which of the following accounting principles prescribes that a company record its expenses incurred to generate the revenue reported?
A. Going-concern assumption.
B. Consideration assumption.
C. Expense recognition (Matching) principle.
D. Business entity assumption.
E. Measurement (Cost) principle.
Answer: C
You might also like to view...
Which of the following is the best tip to handle customers effectively?
A. Treat as many customers as possible simultaneously to cater to all their needs. B. Only ask closed-end questions to determine the customer's needs. C. Get to know only those customers who wish to foster a long-term relationship. D. Strive to provide exceptional service to win over the customer.
In security-price research, which of the following is an indirect consequence of an accounting policy change?
a. The value of the firm is affected through an effect on cash flow. b. The value of the firm is affected through an effect on net income. c. The value of the firm is affected through an effect on owners. d. The value of the firm is not affected.
Social media are non-ubiquitous
Indicate whether the statement is true or false a. True b. False
The proxy process gives management effective control over the election to the board of directors
Indicate whether the statement is true or false