The Assumption That Deals with When to Recognize the Costs

question 96

Multiple Choice

The assumption that deals with when to recognize the costs that are associated with the revenue that is being recognized is:

• A)matching.
• B)going concern.
• C)consistency.
• D)materiality.
• E)None of the answers are correct.

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Definitions:

Relationship

A connection, association, or involvement between individuals, which can vary in terms of closeness, duration, and type.

Frontal Lobes

The portion of the cerebral cortex behind the forehead, involved in personality, intelligence, and the control of voluntary muscles.

Hippocampus

The structure in the limbic system that has a special role in the storage of memories.

Hypothalamus

A small forebrain structure, located just below the thalamus, that monitors three pleasurable activities—eating, drinking, and sexual behavior—as well as emotion, stress, and reward.