Which of the Following Accounting Principles Prescribes That a Company

question 105

Multiple Choice

Which of the following accounting principles prescribes that a company record its expenses incurred to generate the revenue reported?

• A) Going-concern assumption.
• B) Matching principle.
• C) Cost principle.
• D) Business entity assumption.
• E) Consideration assumption.

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Definitions:

Moral Development

The way in which individuals acquire suitable dispositions and conduct towards fellow members in a society, guided by the norms, regulations, and laws of the culture and society.

Lawrence Kohlberg

A psychologist known for his theory on the stages of moral development.

Emerging Adulthood

A phase of the life span between adolescence and full-fledged adulthood that encompasses late teens through twenties, characterized by exploration and instability.

Identity

Who a person is, representing a synthesis and integration of self-understanding.