Which of the following accounting principles dictates when expenses are recognized?
A)Revenue recognition principle
B)Monetary unit principle
C)Business entity principle
D)Matching principle
E)Full disclosure principle

Question

Quizplus · Accepted Answer

The matching principle states that expenses should be recognized in the same period as the revenues they help to generate. This principle ensures that the income statement accurately reflects the profitability of the business for a specific period.

Which of the Following Accounting Principles Dictates When Expenses Are