Which of the Following Accounting Principles Prescribes That a Company

question 296

Multiple Choice

Which of the following accounting principles prescribes that a company record its expenses incurred to generate the revenue reported?

• A) Expense recognition (Matching) principle.
• B) Going-concern assumption.
• C) Measurement (Cost) principle.
• D) Consideration assumption.
• E) Business entity assumption.

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Definitions:

Creativity and Innovation

The process and ability to generate new ideas, approaches, or solutions that are significant and original.

Higher Levels

Positions or layers in an organization that involve more strategic planning, decision-making authority, and overall responsibility than lower-level positions.

Transformational Leadership Model

A leadership style that motivates and inspires followers through visionary goals, influencing major changes and encouraging personal development.

Idealized Influence

A leadership approach that earns the admiration, respect, and trust of followers through exemplary behavior.