Matching Principle in April,Grinnel Paving,Inc.acquired a Large Quantity of Crushed Stone on Stone

question 107

Essay

Matching principle
In April,Grinnel Paving,Inc.acquired a large quantity of crushed stone on account with payment due in 90 days.The stone was used in May when Grinnel Paving,Inc.completed a large parking lot for a local shopping center.In early July,Grinnel Paving,Inc.paid the supplier from which the crushed stone had been purchased.In which month should Grinnel Paving,Inc.recognize the cost of the crushed stone as an expense? What accounting principle provides the justification for the answer?

---

Definitions:

Unusual Bluish-Green

Unusual bluish-green often refers to a unique coloration found in certain minerals, plants, or contexts that stands out due to its rare and distinct hue.

Dwarf Planet

A celestial body that orbits the sun and has enough mass to assume a nearly round shape but has not cleared its orbital path of other debris.

Volcanically Inactive

Referring to a volcano that is not currently erupting and shows no signs of impending activity in the near future.

Tectonically Inactive

Refers to regions of the Earth's crust that are not currently experiencing significant tectonic movements, earthquakes, or volcanic activity.