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HACTEHA [7]
4 years ago
7

The matching principle

Business
1 answer:
suter [353]4 years ago
7 0

Answer:

b) states that the revenues and related expenses should be reported in the same period.

Explanation:

Matching principle -

It is one of the basic guideline of accounting , the principle helps to directs a company to report the expense of its income statement when the related revenues are earned .

According to this principle , the expenses and revenues need to be reported at the same time .

hence , the correct statement for the term matching principle is - ( b ) .

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On January 1, 2016, Tonika Company issued a four-year, $10,000, 7% bond. The interest is payable annually each December 31. The
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Answer:

Option C is correct one.

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Cash 700

Explanation:

2016 interest expense  = initial issue price, which is the 1/1/2014 book value x the market (effective) interest rate

= $9,668 x 08

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3 0
3 years ago
A different ethanol processing facility costs $800,000 to construct but will instead last forever.Every year (starting the year
iragen [17]

Answer:

r = 5%

Explanation:

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8 0
3 years ago
A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for $23,649 repres
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Answer:

a. $(3,881)

Explanation:

Gain on sale of fixed assets is an income. To be included in the operating section of the cash flow statement, we need to deduct the gain. The disposal of the fixed assets will go to the investing section. As the gain of the sale of assets is already added to the net income in the income statement, it will be deducted to make the accounting procedure transparent. Therefore, <em>option A</em> is correct.

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<u>Answer:</u>

<em>C. the price for most products and services is always the same.</em>

<em></em>

<u>Explanation:</u>

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3 0
4 years ago
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