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Match the Expense Recognition Principles to Their Corresponding Expenses by Placing

Question 104

Matching

Match the expense recognition principles to their corresponding expenses by placing the appropriate letter in the space provided

Premises:
Amortization
Sales commissions
Cost of goods sold
Administrative salaries
Allocation of prepaid insurance
Utilities
Product warranty costs
Depreciation
Transportation-out
Travel and entertainment
Responses:
association of cause and effect
systematic and rational allocation
immediate recognition

Correct Answer:

Amortization
Sales commissions
Cost of goods sold
Administrative salaries
Allocation of prepaid insurance
Utilities
Product warranty costs
Depreciation
Transportation-out
Travel and entertainment
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