The four general accounting principles include: (Check all that apply).

Business

1 answer:

charle [14.2K]3 years ago

5 0

Answer:

The four accounting principles are:

Expense recognition: this principle establishes that expenses are recognized when their associated revenue is realized. For example, if I buy inventory in May, and sell it in June, I will recognize the inventory expense in June, not in May.
Measurement: this principle establishes that businesses should only record transactions when these transactions can be expressed in terms of money.
Revenue recognition: this principle establishes that revenues are accounted for when they are realized, not necessarily when they are paid for. For example, if I sell merchandise in June on credit, and the credit is due in July, I will recognize the revenue in June, not in July.
Full disclosure: this principle establishes that public companies (those that sell and buy their stock in the public market) should disclose all relevant financial information to the stockholders (the authorities, investors, credit rating agencies, auditing agencies).

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