3 Questions
Which accounting principle states that revenue should be recognized when it is earned, regardless of when the cash is received?
Revenue recognition principle
Which accounting concept assumes that the entity will continue to operate in the foreseeable future?
Going concern concept
Which accounting principle requires that expenses should be recorded in the same period as the related revenues that they help to generate?
Matching principle
Test your knowledge of accounting principles and concepts with this quiz! Explore topics such as revenue recognition, going concern assumption, and the matching principle. Challenge yourself with questions on fundamental accounting principles and concepts.
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