Describe the expense recognition principle (matching principle). Give specifics.
Question:
Describe the expense recognition principle (matching principle). Give specifics.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
The expense recognition principle is also known as the matc...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
The matching principle, also known as the expense recognition principle, directs accountants to identify and measure all expenses incurred during the period and to match the expenses against the...
-
Consider the principles, assumptions and constraints of Generally Accepted Accounting Principles (GAAP). Define the expense recognition principle (sometimes referred to as matching principle) and...
-
Describe the relationship between the expense matching principle and accounting for long-lived assets.
-
Find the derivatives of the function. 9 cot sin t t
-
What is meant by the intrinsic value of a bond?
-
An incandescent lightbulb is an inexpensive but highly inefficient device that converts electrical energy into light. It converts about 10 percent of the electrical energy it consumes into light...
-
Tyler Companys ASC 932-235 disclosures included the following information: REQUIRED: Using the information for Tyler Company in problems 13, 14, and 15 and in this problem: a. Compute the value of...
-
Sawaya Co., Ltd., of Japan is a manufacturing company whose total factory overhead costs fluctuate considerably from year to year according to increases and decreases in the number of direct...
-
A certain low-loss non-magnetic dielectric material has a relative permittivity (er) of 2.5 and a loss tangent of 0.004. What is the phase constant b of a plane wave of frequency 11.3 GHz?
-
Complete Form SS-4 for TCLH Industries. The company was formed on December 1, 2019, as a corporation (which files Form 1120S and was incorporated in North Carolina) by Michael Sierra (CEO; SSN 232-...
-
Which of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed...
-
Identify whether each of the following transactions, which are related to expense recognition, are accrual, deferral, or neither. A. Paid an expense for the current month B. Prepaid an expense for...
-
A red urn contains 2 red marbles and 3 blue marbles, and a blue urn contains 1 red marble and 4 blue marbles. A marble is selected from an urn, the color is noted, and the marble is returned to the...
-
Mohiam Publishing produces paperback books and had the following information available when 8 , 4 0 0 units were made: Administrative wages $ 2 9 , 4 0 0 Wages for factory workers 1 6 , 8 0 0 Paper 7...
-
"In what ways do media and social media contribute to the reinforcement of social control in everyday life? Please provide two specific examples to illustrate this phenomenon."
-
Let f(x) = 14x5 - 6x3 + 9. Find f'(x). f'(x) = 0
-
What constitutes deviant behavior, and how does society typically react or respond to it?"
-
Clearly define the topic of maritime security in the Caribbean and provide background information on the importance of the region for global trade and security. Identify and describe the main...
-
In Exercises 1-3, use the power method to approximate the dominant eigenvalue and eigenvector of A. Use the given initial vector x0, the specified number of iterations k, and three-decimal-place...
-
The manager of a local convenience store is expanding his line of small toy items. To price these new items, the manager is looking at the prices being charged by competing retailers in his area. For...
-
This standard is set at a level that could be achieved if everything ran perfectly. A. Ideal standard B. Attainable standard C. Unattainable standard D. Variance from standard
-
Freidrich is working with the operations manager to determine what the standard material cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what...
-
What makes a variance favorable? Give an example of a favorable variance involving materials. What makes a variance unfavorable? Give an example of an unfavorable variance involving labor.
-
If courts in the United States suddenly dispensed with informal models of criminal justice and instead relied on formal procedure, what do you think would happen to the judicial system? explain and...
-
Let AR be an n-order real symmetric matrix, b = R" be an n-dimensional real vector, and let us define the function f : R" R as f(x) = x Axbx. Here, x means the transpose of the vector x. (1) Assume A...
-
Recall for a sequence {k}, Un == supkn k and one defines lim sup klim yn. Show that lim sup, inf{a: so that the set {n: xn> a} is finite}. 7L =
Study smarter with the SolutionInn App