Match the Following Terms with the Appropriate Definition

question 420

Multiple Choice

Match the following terms with the appropriate definition.
-The accounting system that uses the adjusting process to recognize revenues when earned and expenses when incurred.

• A)Accrued revenues
• B)Expense recognition (matching) principle
• C)Cash basis accounting
• D)Depreciation
• E)Accrual basis accounting
• F)Interim financial statements
• G)Straight-line depreciation
• H)Time period assumption
• I)Fiscal year