Which of the Following Accounting Principles Requires Businesses to Record

question 64

Multiple Choice

Which of the following accounting principles requires businesses to record depreciation?

• A)the revenue recognition principle
• B)the matching principle
• C)the cost principle
• D)the going concern principle

Understand the concept of accounting profit versus economic profit.

Recognize and articulate the difference between "either-or" and "how much" decisions.

Calculate opportunity costs and understand their relevance to economic and business decisions.

Differentiate between explicit and implicit costs in short-run total cost calculations.

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Definitions:

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Four Years

A period of time consisting of four consecutive years, often used in contexts such as terms of office, educational programs, or cycles.

Not-For-Profit Sector

Organizations that operate for purposes other than generating profit, often focused on social, charitable, or community goals.

Grooming

The process of building a relationship, trust, and emotional connection with someone to manipulate, exploit, or abuse them.