The expense recognition principle relates The expense recognition principle relatescustomers with businesses.assets with liabilities.expenses with revenues.creditors with businesses.

Expense recognition is based on accrual and matching concept where accrual concept states that…

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Business

Accounting

The expense recognition principle relates

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 7Q: What is the effect on the accounting equation when a business pays the balance due on accounts...

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