estion 15 The "matching principle" is used in the Income Statement to report dividends & deferred taxes "revenues when they are legally earned" and "expenses when they were legally consumed" no matter when the actual cash changes hands cost of goods sold only ●"revenues when the cash is actually received" and "expenses when they are actually paid for" no matter when they were legally incurred VERSTE KTM

estion 15 The "matching principle" is used in the Income Statement to report dividends & deferred taxes "revenues when they are legally earned" and "expenses when they were legally consumed" no matter when the actual cash changes hands cost of goods sold only ●"revenues when the cash is actually received" and "expenses when they are actually paid for" no matter when they were legally incurred VERSTE KTM

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 4SEQ: Adjustments to the company’s records based on the hank reconciliation are required for: A. additions...

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