The Accounting Principle That Requires Revenue to Be Recorded When

question 54

Multiple Choice

The accounting principle that requires revenue to be recorded when earned is the:

• A) Matching principle.
• B) Revenue recognition principle.
• C) Time period assumption.
• D) Accrual reporting principle.
• E) Going-concern assumption.

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Definitions:

Median Nerve

A major nerve in the human body extending down the arm, through the carpal tunnel in the wrist, to the hand, responsible for sensation and movement.

Parasympathetic Division

A branch of the autonomic nervous system that conserves energy as it slows the heart rate, increases intestinal and gland activity, and relaxes sphincter muscles.

Autonomic Nervous System

The part of the nervous system responsible for control of the bodily functions not consciously directed, such as breathing, the heartbeat, and digestive processes.

Motor Response

The physical reaction or movement in response to a specific stimulus, mediated by the central and peripheral nervous systems.