Asked by
Dajuan Niver
on Oct 20, 2024
Verified
Two accounting principles that are relied on in the adjusting process are:
A) Revenue recognition and monetary unit.
B) Revenue recognition and going-concern.
C) Matching and cost.
D) Matching and business entity.
E) Revenue recognition and matching.
Matching Principle
An accounting rule that dictates expenses should be recorded in the same period as the revenues they helped to generate.
- Understand the significance and methodology behind the creation of adjusting entries in the field of accounting.
- Learn the concepts underlying accrued expenses and revenues as well as the related adjusting entries.
Verified Answer
CC
Learning Objectives
- Understand the significance and methodology behind the creation of adjusting entries in the field of accounting.
- Learn the concepts underlying accrued expenses and revenues as well as the related adjusting entries.
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