The Matching Principle and the Full Disclosure Principle Are the Two

question 127

True/False

The matching principle and the full disclosure principle are the two main accounting principles used in accrual accounting.

---

Definitions:

Productivity

The quantity of goods and services produced from each unit of labor input.

Productivity

A measure of the efficiency of production, often calculated as the ratio of outputs produced to inputs used.

Income Per Person

The average amount of money earned by an individual in a specific area or country, often used to measure economic well-being.

Real GDP Growth Rates

The rate at which the inflation-adjusted value of all goods and services produced in a country grows over a specified period of time.