The Matching Principle in Accounting Requires the Matching Of

question 18

Multiple Choice

The matching principle in accounting requires the matching of:

• A)revenue earned with the assets used to produce the revenue.
• B)revenue earned with the assets used less the liabilities incurred.
• C)revenue earned with the liabilities used to produce the revenue.
• D)revenue earned with the expenses incurred to produce the revenue.

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Definitions:

Insects

Most diverse arthropod group; have six legs, two antennae, and, in most subgroups, wings.

Bacteria

Single-celled, prokaryotic microorganisms that come in various shapes and can inhabit a wide range of environments, including soil, water, and living in or on other organisms.

Fungi

A kingdom of complex organisms that include molds, yeast, mushrooms, and more, distinct from plants and animals.

Niche Overlap

Refers to the condition where two or more species occupy overlapping niches, sharing resources in the same environment, which can lead to competition.