The expense recognition principle ("matching") dictates:

a) The ordering of current assets and current liabilities on the balance sheet.

b) When costs are recognized as expenses on the income statement.

c) Where on the income statement expenses should be presented.

d) When revenues are recognized on the income statement.

Question

Tamara Fischer

18 November, 03:32

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Tuffy · Answer 1

B. When costs are recognized as expenses on the income statement.