Adjustments to Revenue Accounts at the End of the Accounting

question 119

Multiple Choice

Adjustments to revenue accounts at the end of the accounting period are made to adhere to accrual accounting principles,specifically the ______ principle.

• A) revenue recognition
• B) expense recognition ("matching")
• C) cost
• D) contra-account

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Definitions:

Common Schools

Tax-supported state schools of the early nineteenth century open to all children.

Nineteenth Century

The period from January 1, 1801, to December 31, 1900, marked by significant industrial, cultural, and political developments worldwide.

Antebellum Era

A period in the southern United States before the Civil War, marked by the expansion of slavery and significant socio-economic growth and development.

Poorhouses

Institutional facilities established in the 19th and early 20th centuries to house and support the indigent and poor.