The basic principle involved with expense recognition is. a. The business will continue to operate indefinitely unless there is evidence to the contrary. b. All transactions are recorded at the exchange price. c. The business is separate from its owners. d. All costs that are used to generate revenue are recorded in the period the revenue is recognized.

The correct answer is letter "D": All costs that are used to generate revenue are recorded in the period the revenue is recognized.

Explanation:

According to the basic matching principle, revenues and the expenses necessary to obtain those revenues must be recorded during the same accounting period. This is part of what constitutes the accrual basis method of accounting that states expenses and revenue should be recognized when incurred not when cash is received.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3