The Idea That Expenses Should Be Shown in Financial Statements

question 74

Multiple Choice

The idea that expenses should be shown in financial statements in the same period in which they help the company earn revenues is referred to as

• A) Matching
• B) Going concern
• C) Historical cost
• D) Cash basis accounting

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Definitions:

Germans

People originating from Germany, characterized by their culture, language, and historical contributions to various fields.

English Colonies

Territories in the Americas and other parts of the world that were under the control and administration of the English crown from the late 16th to early 18th centuries.

Mulatto Class

A historical term referring to a social class or group composed of people of mixed European and African ancestry, often associated with colonial and slave societies.

Spanish Empire

A historical empire that included territories and colonies across the globe, known for its vast reach and wealth in the 16th to 18th centuries.