In Accounting,the Matching Principle Means to Match Which of the Following

question 116

Multiple Choice

In accounting,the matching principle means to match which of the following?

• A) Revenues to liabilities
• B) Expenses to assets
• C) Expenses to revenues
• D) Expenses to liabilities

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Definitions:

Equivalent Units

A concept used in cost accounting to express the amount of work done on partially finished goods as a percentage of the work needed to complete them.

Equivalent Units

A concept in cost accounting used to assign costs to partially completed goods, measured in terms of the amount of work done relative to completed units.

Conversion Costs

Expenses incurred in the process of converting raw materials into finished products, typically including labor and overhead costs.

Cost Of Production Report

A detailed report typically used in process costing that summarizes the material, labor, and overhead costs encountered during a period.