The basic expense recognition criteria states that expenses should be recognized when: cash is paid there is
Fantastic news! We've Found the answer you've been seeking!
Question:
cash is paid there is a decrease in an asset or increase in a liability,
excluding transactions with owners there is an increase in an asset of decrease in a liability,
excluding transactions with owners
all of the above
Related Book For
Financial Accounting an introduction to concepts, methods and uses
ISBN: 978-0324789003
13th Edition
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
Posted Date: