The Recording of Expenses in the Same Period as That

question 32

Multiple Choice

The recording of expenses in the same period as that in which the revenue is recorded is the application of which accounting concept?

• A)Matching
• B)Revenue recognition
• C)Accrued expenses
• D)Conservatism

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Definitions:

Health-Care Insurance

A policy that covers the whole or part of the risk of a person incurring medical expenses, spreading the risk over numerous individuals.

Policymaking Process

The method by which governments and other authorities create and implement laws and regulations.

Affordable Health Care Act

A federal statute signed into law in 2010 aimed at expanding healthcare coverage, reducing healthcare costs, and improving system efficiency, commonly known as Obamacare.

Medicaid

A government health insurance program for individuals and families with low income and resources.