The expense matching principle states that: Multiple Choice Expenses are recognized when paid. All expenses are recognized when the corresponding revenue is recorded. Some expenses are recognized when the corresponding revenue is recognized and some are spread over time. Expenses are recognized when the invoice is received.

The expense matching principle states that: Multiple Choice Expenses are recognized when paid. All expenses are recognized when the corresponding revenue is recorded. Some expenses are recognized when the corresponding revenue is recognized and some are spread over time. Expenses are recognized when the invoice is received.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 2MC: Which of the following best represents the matching principle criteria? A. Expenses are reported in...

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Which of the following best represents the matching principle criteria? A. Expenses are reported in the period in which they were incurred. B. Expenses may be reported in a different period than the matching revenues. C. Revenue and expenses are matched based on when expenses are paid. D. Revenue is recognized when an order occurs and not when the actual sale is initiated.
Discuss the importance of the matching principle in determining the timing and recognition of revenues and expenses.
Which of the following best represents the matching principle criteria?A. Expenses are reported in the period in which they were incurred.B. Expenses may be reported in a different period than the matching revenues.C. Revenue and expenses are matched based on when expenses are paid.D. Revenue is recognized when an order occurs and not when the actual sale is initiated
T/F: The matching principle requires that expenses be recorded in the same period as the revenues they help generate.
Discuss the concept of matching principle and its significance in determining the timing of revenue and expense recognition.
Revenues & Expenses - The Matching Concept Why are such costs/expenses more difficult to directly associate revenue? (Eg: Administrative salary expense, Interest expense, etc) Please explain.
Which of the following best represents the matching principle criteria? Revenue is recognized when an order occurs and not when the actual sale is initiated. Expenses must be reported in a different period than the matching revenues. Revenue and expenses are matched based on when expenses are paid. Expenses are reported in the period in which they were incurred. 0000
Describe the expense recognition principle (matching principle).
The primary objective of the matching principle is toa. Provide full disclosureb. Record expenses in the period that related revenues are recognizedc. Provide timely information to decision makersd. Promote comparability between financial statements of different periods
The __________ requires that expenses be matched up with revenue for the same period of time. a. matching principle b. expense principle c. revenue recognition principle d. separate entity concept
The practice of recording advance payments from customers as a liability is an example of applying the O Going concern assumption. O Monetary unit assumption. O Historical cost principle. Revenue recognition principle.
Which of the following principles matches expenses with associated revenues in the period in which the revenues were generated? Group of answer choices 1.revenue recognition principle 2.expense recognition (matching) principle 3.cost principle 4.full disclosure principle