AFP
CTP · Question #55
(Topic 1) The accounting requirement that a product's selling costs be recorded in the same period as the product's revenue is recorded, regardless of when the cash is paid, is an example of the:
The correct answer is C. matching principle. See the full explanation below for the reasoning.
Question
- (Topic 1)
The accounting requirement that a product’s selling costs be recorded in the same period as the product’s revenue is recorded, regardless of when the cash is paid, is an example of the:
Options
- Afull disclosure principle.
- Bhistorical cost principle.
- Cmatching principle.
- Drevenue recognition principle.
How the community answered
(53 responses)- A8% (4)
- B17% (9)
- C72% (38)
- D4% (2)
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