The Expense Recognition Principle States That Expenses Should Be Matched

question 260

Multiple Choice

The expense recognition principle states that expenses should be matched with revenues. Another way of stating the principle is to say that

• A) assets should be matched with liabilities.
• B) efforts should be matched with accomplishments.
• C) dividends to shareholders should be matched with shareholders' investments.
• D) cash payments should be matched with cash receipts.

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Definitions:

Renal Pelvis

The central part of the kidney where urine collects before moving to the ureter.

Renal Cortex

The outer part of the kidney, involved in the filtration of blood, removal of waste substances, and production of urine.

Ductus Deferens

A muscular tube that carries sperm from the epididymis to the ejaculatory ducts in the male reproductive system.

Urogenital Sinus

In certain animals, a common chamber formed by the fusion of the urethral and vaginal passages, serving both urinary and genital purposes.