Question 17 1 points Save ___________ requires that expenses will be matched wit
ID: 471095 • Letter: Q
Question
Question 17
1 points
___________ requires that expenses will be matched with revenues to determine net income for the accounting period.
Full disclosure
Revenue recognition
Compliance
Matching
Materiality
Question 18
1 points
A CPA with an ownership interest in a dot-com business may audit
a shipping business owned by a part owner of the dot-com business.
competitors of the dot-com business.
an investment bank owned by a part owner of the dot-com business.
the dot-com business itself.
all of the above.
Question 19
1 points
The interdependence of the worldwide system of trade, finance, and management is an example of a(n) __________ force as described in the CPA Vision Project.
technical
economic
political
social
regulatory
Question 20
1 points
According to GAAP, the earnings cycle is complete when
the sale is complete.
the product is delivered.
the sales price is collected or collectible.
all of the above.
none of the above.
Question 17
1 points
___________ requires that expenses will be matched with revenues to determine net income for the accounting period.
Full disclosure
Revenue recognition
Compliance
Matching
Materiality
Explanation / Answer
1. D
2. B
3.B
4. D
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