Which One of the Following Statements Regarding the Revenue Recognition

question 92

Multiple Choice

Which one of the following statements regarding the Revenue Recognition Principle and Expense Recognition (Matching) Principle is true?

• A)According to the revenue principle,a company should not record the revenue from a transaction until it is actually received in cash.
• B)Expenses are recorded when the company uses goods or services.
• C)The Expense Recognition (Matching)principle requires that expenses be determined first and then revenues be "matched" to those expenses.
• D)The revenue and expense accounts on the income statement continue to have an impact beyond the current period,whereas balance sheet items report the financial impact in just the current period.

Understand the psychosocial needs of young and middle-aged adults, including those related to employment and family dynamics.

Recognize the role of nurses in providing education and support for health maintenance and disease prevention.

Identify strategies for promoting healthy behaviors and reducing risk factors in young and middle-aged adults.

Demonstrate knowledge of the unique aspects of caring for pregnant patients and the importance of prenatal care.

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Definitions:

Corporate Tail Spend

The small amount of spend that accounts for a majority of an organization's transactions but a minority of its overall spend, often unmanaged or undermanaged.

Business Supply Spending

Expenditure by businesses on the procurement of goods and services necessary for their operations, including office supplies, machinery, and software.

Core Corporate Functions

Essential activities or operations critical to the management and sustained success of a corporation, such as finance, human resources, and marketing.

Suppliers

Individuals or companies that provide goods or services to another entity, typically within a supply chain.