which one is the correct answer?? 7. The principle or assumption dictating that efforts (expenses) be matched

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which one is the correct answer??

7. The principle or assumption dictating that efforts (expenses) be matched with accomplishments (revenues) is:
A. the time period principle.
B. the cost assumption.
C. the expense recognition principle.
D. the revenue recognition principle.

8. Which of the following statements is incorrect concerning adjusting entries?
A. Adjusting entries ensure that revenue and expense recognition principles are followed. B. Adjusting entries involves two statement of financial position accounts.
C. Adjusting entries are usually required before financial statements are prepared.
D. Adjusting entries are journalized based on analyses, rather than on transactions.

9. Hyundai Inc. purchased land for W118,000,000 in 2011. At December 31, 2020, an appraisal determined the fair
value of the land is W136,000,0000. statement of financial position at
A. W100,000,000.
B. W118,000,000.
C. W136,000,000. D. W154,000,000.

10. When companies record transactions in the period in which the events occur, ______ is being applied. A.accrual-basis accounting.
B.the time period assumption.
C.the matching of the income statement with the statement of financial position.
D.the expense recognition principle.