Which of the Following Accounting Principles States That Expenses Are

question 80

Multiple Choice

Which of the following accounting principles states that expenses are recognized in the same period as the revenues they help to generate?

• A) Accounting equation.
• B) Revenue recognition.
• C) Matching principle.
• D) Conservatism.

Understand the significance of creating a culture and environment in businesses that supports ethical practices and clear moral guidelines.

Understand and apply the concept of insurance premiums and discounts.

Calculate vehicle depreciation and the cost implications over time.

Perform calculations related to vehicle operation, such as fuel efficiency and speed conversions.

---

Definitions:

Corporate Vertical Marketing System

A coordinated marketing strategy where a single company controls multiple levels of production, distribution, and sales within its supply chain.

Contractual Vertical System

A formal arrangement between firms at different levels of the supply chain, governed by a contract, to coordinate their activities.

Marketing Channel

A series of steps or operations needed to change the ownership of items from the location of creation to the location of use.

Strategic Channel Alliances

Partnerships between organizations to create distribution channels for reaching consumers more effectively and efficiently.