Costs of a product that are regarded as an asset for financial reporting under GAAP are called

Is the matching of costs and revenue a basic accounting principle?

In accounting, which statement accurately reflects the Historical Cost Accounting concept and its implications for financial reporting? a ) Historical Cost Accounting records assets at their original purchase price. b) Historical Cost Accounting adjusts asset values based on current market prices. c) Historical Cost Accounting emphasizes future projected values for assets. d) Historical Cost Accounting disregards the original purchase price of assets.

Which of the following accounting principles or conventions is contradictory to the GAAP requirement to expense R&D costs immediately?   matching principle   historical cost principle   comparability   conservatism

Financial reporting purposes, long-lived, revenue-producing assets typically are classified in two categories. What are the two categories explain?

Under what type of responsibility would cost accounting go under? managerial accounting, tax accounting or financial accounting.

Which of the following costs is a nonlease component for the lessee?    taxes  maintenance    insurance

Which of the following costs would not be included in accounting financial statements? O A. opportunity costs O B. sunk costs O C. historical costs O D. All of the above would be included in accounting financial statements

The accounting principle upon which deferrals and accruals are based is Oa. conservatism Ob. matching Oc. price-level adjustment Od. cost

Asset measurements in conventional financial statements * are confined to historical cost. are confined to historical cost and curren cost. reflect several financial attributes. O do not reflect output values.