The expense recognition principle ("matching")dictates:
A)where on the income statement expenses should be presented.
B)when revenues are recognized on the income statement.
C)the ordering of current assets and current liabilities on the balance sheet.
D)when costs are recognized as expenses on the income statement.

Question

Quizplus · Accepted Answer

The expense recognition principle ("matching")is the practice under accrual basis accounting to record expenses in the same period as the revenues they generate,not necessarily the period in which cash is paid for them.

The Expense Recognition Principle ("Matching")dictates