Sally Smith Had Expenses of $800 in June Which She

question 128

Multiple Choice

Sally Smith had expenses of $800 in June which she paid in July.She reported these expenses on her June income statement.By doing this,she is following the accounting principle of:

• A)Revenue realization.
• B)Adequate disclosure.
• C)Matching.
• D)Conservatism.

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Definitions:

Draft

A preliminary version of a document, plan, or design that is open for discussion, revision, or improvement.

Forged

Refers to the illegal creation, alteration, or imitation of documents, signatures, or objects with the intent to deceive.

Unauthorized Drawer's Signature

A signature on a financial or legal document that was made without the consent or authorization of the person purported to have signed.

Recover

To obtain a return of something or to gain restitution through legal processes, such as obtaining damages after a court judgment.