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The matching principle requires that expenses be recognized: A
The matching principle requires that expenses be recognized: A. in the same period in which all the assets are used up. B. in the same period in which the revenue generated by these expenses is recognized. C. when the costs are paid by the entity. D. in the same period in which the revenue generated by these expenses is received.
Expert Solution
Answer
B .
Explanation
The matching principle requires that expenses be recorded in the same accounting period as the revenues that are recognized as a result of those costs. This principal is a major part of the adjusting process. So, the correct option is B " In the same period in which revenue generated by these expenses is recognized" .
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