The Broad Principle That Requires Expenses to Be Reported in the Same

question 23

Multiple Choice

The broad principle that requires expenses to be reported in the same period as the revenues that were earned as a result of the expenses is the:

• A)Recognition principle.
• B)Cost principle.
• C)Cash basis of accounting.
• D)Expense recognition (Matching)principle.
• E)Time period principle.

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Definitions:

Glaucoma

A condition in which too much pressure is created in the eye by excessive aqueous humor. This excess pressure can lead to permanent damage of the optic nerves, resulting in blindness.

Cataracts

Cloudy areas that form in the lens of the eye that prevent light from reaching visual receptors.

Conjunctivitis

A contagious infection of the conjunctiva caused by bacteria, viruses, and allergies. The symptoms may include discharge, red eyes, itching, and swollen eyelids; also commonly called pinkeye.

Cataracts

A condition where the lens of the eye becomes progressively opaque, leading to blurred vision.