The Broad Principle That Requires Expenses to Be Reported in the Same

question 21

Multiple Choice

The broad principle that requires expenses to be reported in the same period as the revenues that were earned as a result of the expenses is the:

• A) Expense recognition (Matching) principle.
• B) Recognition principle.
• C) Cost principle.
• D) Time period principle.
• E) Cash basis of accounting.

---

Definitions:

Mega-Discount Chain

A large-scale retail store or series of stores offering significant discounts on a wide range of merchandise to attract a broad customer base.

Cluster Sampling

A sampling technique where the population is divided into clusters, and a sample of these clusters is then selected for analysis.

Education Researcher

An individual specializing in studying, evaluating, and improving educational systems, methods, policies, and outcomes.

Stratified Sampling

A sampling method that divides the population into smaller groups, or strata, to ensure representation of significant subpopulations in the sample.