Question

Match the accounting term with the corresponding definition.
____ 1. Accrual-basis accounting
____ 2. Matching principle
____ 3. Revenue recognition principle
____ 4. Fiscal period
a. Any consecutive 12-month period.
b. Records the impact of a business event as it occurs regardless of whether the transaction affected cash.
c. Records expenses when incurred to sell goods or provide services.
d. Records revenue when it is earned.



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  • CreatedApril 29, 2014
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