The Basic Purpose of the Matching Principle Is to Allocate

question 105

Multiple Choice

The basic purpose of the matching principle is to allocate the cost of an asset to expense over the years in which the asset contributes to revenue.Current accounting practice does not strictly apply this principle to expenditures for:

• A)Natural resources.
• B)Research and development.
• C)Trademarks.
• D)Equipment.

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The process of systematically arranging and setting down laws, rules, principles, or procedures in a coherent system.

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The process of choosing photos based on specific criteria or relevance, often used in research, publications, or archival work.

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Gives someone the authority or power to do something or makes them stronger and more confident.

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A positive transformation that leads to improvement in a situation or condition.