1. A company records the expenses incurred to generate the reverate report is what
- Expense Recognition Principle
- Full-Disclosure Principle
- Measurement Principle
- Revenue Recognition Principle
2. Revenue is recognized when goods are provided to the customer at the amount expected to be received.
A. Expense Recognition Principle
B. Full-Disclosure Principle
C. Measurement Principle
D. Revenue Recognition Principle
3. A company reports the details behind financial statements that would impact user’s decisions.
A. Expense Recognition Principle
B. Full-Disclosure Principle
C. Measurement Principle
D. Revenue Recognition Principle
4. Accounting information is based on actual cost.
A. Expense Recognition Principle
B. Full-Disclosure Principle
C. Measurement Principle
D. Revenue Recognition Principle