Which of the following accounting principles prescribes that a company record its expenses incurred to generate the revenue reported?
A)Going-concern assumption.
B)Expense recognition (Matching)principle.
C)Measurement (Cost)principle.
D)Business entity assumption.
E)Consideration assumption.

Question

Quizplus · Accepted Answer

The expense recognition (matching) principle requires a company to record expenses in the same period as the revenue they generate. This ensures that the income statement accurately reflects a company's profitability for a given period.

Which of the Following Accounting Principles Prescribes That a Company