Current Attempt in Progress Match the following statements to the appropriate terms. A twelve month accounting period Expenses paid before they are incurred Cost less accumulated depreciation Divides the economic life of a business into artificial time periods Efforts are related to accomplishments A contra asset account Recognition of revenue when the performance obligation is satisfied Revenues recognized but not yet received Expenses incurred but not yet paid A cost allocation process Current Attempt in Progress Match the following statements to the appropriate terms. A twelve month accounting period Expenses paid before they are incurred Cost less accumulated depreciation Divides the economic life of a business into artificial time periods Efforts are related to accomplishments A contra asset account Recognition of revenue when the performance obligation is satisfied Revenues recognized but not yet received Expenses incurred but not yet paid A cost allocation process