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Exam T7 Topic 2 Question 111 Discussion
Worldatwork Exam T7 Topic 2 Question 111 Discussion
Actual exam question for Worldatwork's T7 exam
Question #: 111
Topic #: 2
[All T7 Questions]
What are the two guiding principles of accrual accounting?
A
Expense recognition and matching
B
Revenue recognition and matching
C
Revenue recognition and measurement
D
Cost and materiality
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Suggested Answer:
B
by
Mozell
at
May 04, 2025, 10:59 PM
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Shawna
7 days ago
Option B seems like the way to go. Revenue recognition and matching are the cornerstones of accrual accounting.
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Shawna
7 days ago