Match the following terms with the appropriate definitions. ...

[neverstopbelieb]

Match the following terms with the appropriate definitions. Definitions have not been provided for all of these terms.
 
  a. Accrual
  b. Deferral
  c. Net income
  d. The matching principle
  e. The revenue recognition principle
  f. The cost principle
  g. The valuation principle
  h. Adjustments
 
  _____ 1. Updates made to account balances at the end of each accounting period
  _____ 2. The rule that requires that revenues be recognized in the period when earned
  _____ 3. A transaction in which the exchange of dollars comes before the action
  _____ 4. The rule that requires that both earnings and the costs of earnings be reported on the same statement each accounting period
  _____ 5. A transaction in which the action comes before the exchange of cash

Question 2

To be useful, information must be accurate and reliable.
 
  Indicate whether the statement is true or false

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Answer to Question 1

h, e, b, d, a

Answer to Question 2

TRUE

[neverstopbelieb]

Thanks for the timely response, appreciate it

[pangili4]

YES! Correct, THANKS for helping me on my review