Examlex
Esperanza is having a great deal of difficulty in her statistics class.She visits her teacher to discuss ways in which she can improve her skills,or even drop the class if necessary.What kind of coping is Esperanza demonstrating?
Accrual Accounting
An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is received or paid.
Incurred
Describes expenses that have been realized or experienced by a business or individual.
Matching Principle
An accounting principle that expenses should be recorded in the same period as the revenues they helped to generate, to provide a more accurate picture of financial performance.
Deferrals
Accounting transactions that involve recognition of revenues or expenses in a period different from when they are actually received or paid, to match revenues with expenses in the appropriate period.
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