The Matching Principle in Accounting Requires the Matching of

question 64

Multiple Choice

The matching principle in accounting requires the matching of

• A) revenue earned with the expenses incurred to produce the revenue.
• B) revenue earned with the assets used to produce the revenue.
• C) revenue earned with the liabilities incurred to produce the revenue.
• D) revenue earned with the assets used less the liabilities incurred.

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Definitions:

Self-Serving Bias

The common tendency to attribute one’s successes to personal characteristics and failures to external factors.

Shock Machine

Often associated with psychological experiments, it refers to a device used to deliver an electric shock to a subject, typically used in studies on obedience, learning, and punishment.

Stanley Milgram

A psychologist best known for his research on obedience to authority, which revealed how people are willing to follow orders even when it results in harming others.

Obedience

Compliance with an order, request, or law, or submission to another's authority.