Which of the Following Is a TRUE Statement About the Matching

question 243

Multiple Choice

Which of the following is a TRUE statement about the matching principle?

• A)The matching principle states that expenses should be recognized when cash is paid for an item.
• B)The matching principle states that assets must match,or equal,liabilities plus shareholders' equity.
• C)The matching principle states that expenses incurred should be recognized in the same period as revenues earned.
• D)The matching principle states that,after adjustments,expenses must equal revenues in each accounting period.

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Definitions:

Gestation

The period of development from the time of fertilization until birth in organisms that undergo embryonic and fetal development, notably humans.

Adoption Agency

An organization that facilitates placing children into adoptive families, ensuring the welfare of the child and assisting in the legal and logistical processes involved.

Average Gestation

The typical duration of pregnancy, measured from the first day of the woman's last menstrual period until the birth of the baby, usually around 40 weeks in humans.

Oocytes

Immature eggs in the ovaries that can develop into mature eggs during ovulation.