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The expense recognition (matching) principle requires that expenses (expenses/assets/liabilities) be recorded in the same accounting period as the (expenses/revenues/assets) that are recognized as a result of those costs. This principle is a major part of the timing (timing/adjusting/estimating) process.

Answer :

the information regarding the expense should be explained below:

The following information should be considered:

  • The expense recognition (Matching) principle needs that expenses be recorded in the same accounting period as the revenues that are recognized because the result of those costs.
  • This principle is a major part of the adjusting process

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Answer:

Expenses, Revenues, Adjusting

Explanation:

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