Which of the Following Is a TRUE Statement Regarding Expenses

question 31

Multiple Choice

Which of the following is a TRUE statement regarding expenses?

• A)Expenses represent future assets.
• B)The expense recognition principle is also called the matching principle.
• C)Expenses must be paid immediately.
• D)Expenses must always be less than revenues.

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Definitions:

Cleavage

The division of cells during the early stage of embryonic development or a physical split or division.

Germinal Period

The period that begins at conception and lasts until the developing organism becomes attached to the wall of the uterus about 8 to 10 days later.

Prenatal Development

Relates to the process of growth and development within the womb from conception to birth.

Heterogeneity

Variability in the levels of development of different parts of an organism at a given time.