The matching principle means ( ).
A: assets for a period are matched with liabilities.
B: accounts receivable is matched with accounts payable.
C: revenues for a period are matched with the expenses.
D: continue operation.
A: assets for a period are matched with liabilities.
B: accounts receivable is matched with accounts payable.
C: revenues for a period are matched with the expenses.
D: continue operation.
举一反三
- Jammer Corporation holds cash of $8,000 and owes $21,000 on accounts payable. Jammer has accounts receivable of $33,000, inventory of $28,000, and land that cost $42,000. How much are Jammer’s total assets and liabilities? A: Total Assets$83,000; Liabilities$49,000 B: Total Assets$69,000; Liabilities$63,000 C: Total Assets$111,000; Liabilities$49,000 D: Total Assets$111,000; Liabilities$21,000
- Which<br/>of the following accounts is NOT a liability? ( ) A: Accounts Payable B: Notes Payable C: Salaries Payable D: Accounts Receivable
- 中国大学MOOC: A company has net sales of $900,000 and average accounts receivable of $300,000. What is its accounts receivable turnover for the period?
- The purchase of tools on account is recorded by a A: debit to Accounts Payable and a credit to Tools. B: credit to Tools and a credit to Accounts Payable. C: debit to Tools and a credit to Accounts Payable. D: debit to Tools and a debit to Accounts Payable.
- Typical current liability accounts include accounts payable,unearned revenue, bonds payable.