Match Each Statement to the Item Listed Below

question 7

Multiple Choice

Match each statement to the item listed below.
-requires that expenses be recorded in the same period as the revenue that they helped generate

• A)accrual basis accounting
• B)adjusted trial balance
• C)adjusting entries
• D)cash basis accounting
• E)contra accounts
• F)depreciation
• G)matching principle
• H)revenue recognition principle
• I)time period assumption
• J)worksheet

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Definitions:

Distinguish Appearance

The ability to recognize and differentiate individuals or objects based on their visual characteristics or outward form.

Costume

A costume is a set of clothes worn to portray a particular character or identity, often used in performances, festivals, or themed events.

Formal Operations

In Piaget’s terms, mental operations in which all possible combinations are considered in solving a problem. Consequently, each partial link is grouped in relationship to the whole; in other words, reasoning moves continually as a function of a structured whole.

Appearance/Reality Distinctions

The cognitive ability to differentiate between how things appear and how they actually are.