The Accountant Records an Expense for Wages Earned by Employees

question 73

Short Answer

The accountant records an expense for wages earned by employees during the last four days of the year, even though the wages will not be paid in that year. The accountant is following the________ principle.

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Definitions:

Cult Classic

A film that has acquired a highly devoted but specific group of fans. Often, these movies may have been initially unpopular or considered odd but gained a loyal following over time.

Sci-Fi Film

A genre of film that uses speculative, fictional science-based depictions of phenomena that are not fully accepted by mainstream science, such as extraterrestrial lifeforms, spacecraft, robots, cyborgs, interstellar travel or other technologies.

Antitrust Suit

A legal case brought against a company or companies accused of violating laws designed to promote competition and prevent monopolies.

Justice Department

A federal executive department of the U.S. government responsible for the enforcement of the law and administration of justice.