The principle or assumption dictating that efforts (expenses) should be recognized in the period in which a

Question:

The principle or assumption dictating that efforts

(expenses) should be recognized in the period in

which a company consumes assets or incurs liabilities

to generate revenue is the:

(a) expense recognition principle.

(b) cost assumption.

(d) revenue recognition principle.

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Financial Accounting

ISBN: 9781119298229,9781119305842

10th Edition

Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel

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Question Posted: Feb 07, 2024 03:02 AM

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The principle or assumption dictating that efforts (expenses) should be recognized in the period in which a

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a The expense recognition principle dictates that compan...View the full answer

Financial Accounting

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