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Rivera Accounting exam 1 with answers garded A+ 2023
- Exam (elaborations) • 4 pages • 2023
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One of the accounting concepts upon which 
adjustments for prepayments and accruals are based 
is: - . 
matchinganswersThe revenue recognition principle dictates that 
revenue should be recognized in the accounting 
records: - when it is rsIn a service 
- 
type business, revenue is 
considered earned: - when the service is performedanswersThe matching principle matches - . 
expenses with revenuesanswersWhich principle dictates that efforts 
(expenses) be recorded with accomplishments 
(re...
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