Examlex
What does ADO stand for?
Matching Principle
An accounting principle that dictates that expenses should be recognized in the period in which the related revenues are earned, helping to ensure that financial statements are accurate.
Expenses
The outflows or using up of assets as part of operations of a business to generate revenue.
Revenue
The total amount of money generated by the sale of goods or services related to a company's primary operations during a specific period.
Gains Or Losses
The financial results from selling assets or incurring liabilities, measured as the difference between the sale proceeds and the value recorded in accounts.
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