Explain Why Experts Sponsored by the World Meteorological Organization Declared

question 71

Essay

Explain why experts sponsored by the World Meteorological Organization declared the temperature of 134 degrees Fahrenheit, in year 1913, to be the world's hottest officially measured temperature.

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Definitions:

Matching Principle

An accounting principle that requires expenses to be recorded and recognized in the same period as the revenues they helped to generate.

Expenses

Costs incurred in the normal course of business to generate revenues, including costs such as rent, salaries, and utility expenses.

Related Revenue

Income generated from sales or transactions that are directly related to the core operations or primary activities of a business.

Deferred Revenue

Income received by a company for goods or services yet to be delivered or performed; it is recorded as a liability on the balance sheet until the transaction is completed.