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:

Employer Listings

Directories or databases that provide information about employers, often used for job searching or recruitment purposes.

Education Requirements

The minimum level of education necessary to qualify for a particular job, program, or task.

Salaries

Fixed regular payments, typically on a monthly or biweekly basis, made by an employer to an employee.

Socioeconomic Status

An evaluation of a person's or household's place within societal and economic hierarchies, determined by their income, educational background, and job.