The Broad Principle That Requires Expenses to Be Reported in the Same

question 115

Multiple Choice

The broad principle that requires expenses to be reported in the same period as the revenues that were earned as a result of the expenses is the:

• A) Recognition principle.
• B) Cost principle.
• C) Cash basis of accounting.
• D) Matching principle.
• E) Time period principle.

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Definitions:

Marketing Research

The process of gathering, analyzing, and interpreting information about a market, including products and services, target market, and customers for the purpose of improving business decisions.

Cloud Computing

The delivery of computing services—such as servers, storage, databases, networking, software—over the internet to offer faster innovation, flexible resources, and economies of scale.

Business Intelligence

The strategies and technologies used by enterprises for the data analysis of business information to support better business decision making.

Data Analytics

The process of examining data sets to draw conclusions about the information they contain, often with the aid of specialized systems and software.