Which Accounting Principle Requires Reporting Expenses in the Same Period

question 127

Multiple Choice

Which accounting principle requires reporting expenses in the same period as the sales they helped to produce?

• A) Materiality
• B) Going concern
• C) Matching
• D) Cost
• E) Business entity

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Definitions:

Post-action

Refers to the period or activities that happen after a specific action or event has taken place, often involving review or evaluation.

Feedback Controls

Mechanisms used in a system to adjust its performance based on differences between actual outcomes and desired outcomes.

End Results

The final outcomes or conclusions of a process, activity, or operation, reflecting its effectiveness or success.

Future Planning

The process of setting goals and objectives and determining the resources and actions required to achieve them in the future.