Which Principle Dictates That Efforts (Expenses) Be Recorded with Accomplishments

question 184

Multiple Choice

Which principle dictates that efforts (expenses) be recorded with accomplishments (revenues) ?

• A) Cost principle.
• B) Periodicity principle.
• C) Revenue recognition principle.
• D) Expense recognition principle.

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Definitions:

Dual Distribution

A distribution strategy where a company sells products or services through two or more different distribution channels or marketing strategies simultaneously.

Enculturation

The process of socialization through which an individual acquires his or her native culture, mainly early in life.

Acculturation

The process of social influence by which a person partially or fully acquires a new cultural outlook, either by having contact with or living in a culture different from his or her culture of origin.

Socioeconomic Status

Socioeconomic status is a measure of an individual's or family's economic and social position in relation to others, based on income, education, and occupation.