The Accounting Principle That Ensures All Expenses Are Recorded When

question 24

Multiple Choice

The accounting principle that ensures all expenses are recorded when they are incurred during the period and offsets those expenses against the revenues of the period,is called the ________ principle.

• A)comparison
• B)accrual
• C)matching
• D)revenue recognition

Grasp the concept of material requirements plans and their specifications.

Recognize the importance of integration and automation in enterprise resource planning (ERP) systems.

Understand the role of ERP systems in business process integration and the challenges involved in their implementation.

Distinguish between dependent and independent demand techniques in inventory and production planning.

---

Definitions:

Actual Malice

A legal standard used to prove libel or slander that shows the publisher knew the statement was false or acted with reckless disregard for the truth.

Defamation

The act of damaging someone's reputation by making false and harmful statements.

Falsity

Relates to the quality or state of being false or untrue.

Conversion

Any distinct act of dominion wrongfully exerted over another’s personal property in denial of or inconsistent with his rights therein. That tort committed by a person who deals with chattels not belonging to him in a manner that is inconsistent with the ownership of the lawful owner.