The matching principle states that ________
A) financial statements can be prepared for specific periods
B) a business's activities can be sliced into small time segments
C) all expenses should be recorded when they are incurred during the period
D) companies should record revenue when it has been earned
C
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Who among the following can claim product liability from the offender?
A. Jason wants to sue a multinational company for mass manufacturing one of his inventions without purchasing the rights. B. Rebecca's patented jewelry designs have been imitated and sold at a low price under her brand name. C. The airbags in Brian's car, manufactured by Zigwheels Inc., failed to inflate when his car met with an accident. This injured Brian and damaged the car. D. Fred has accused his employer of forcing him and his teammates to work in an unsafe environment. E. Samantha claims that her neighbor has stolen valuable ancestral antiques from her house.
Connors Company self-funds the medical expense benefits that it provides to its employees
Connors Company has a contract with a commercial health insurance company providing that the health insurance company will pay all claims in excess of $250,000. The arrangement with the health insurance company is called A) reinsurance. B) managed care. C) stop-loss insurance. D) coinsurance.