The Recognition of Cost of Goods Sold Expense in the Same

question 130

Multiple Choice

The recognition of cost of goods sold expense in the same period that sales revenue is recognized from the sale of merchandise is a good example of the

• A)matching principle
• B)full disclosure principle
• C)revenue realization principle
• D)historical cost principle

---

Definitions:

Greatest Degree

The highest level or extent of something, often used to describe the intensity or severity of a condition or action.

Frank R. Lautenberg

A United States Senator known for his work on environmental and public health issues, among other political contributions.

Risk Assessment

The process of identifying, analyzing, and evaluating risks associated with a specific situation or recognized threat.

Commercial Chemicals

Chemical substances used in manufacturing processes or sold for industrial or professional use.