CFA Practice Question

There are 1201 practice questions for this topic.

CFA Practice Question

What is the accounting principle associated with the GAAP requirement that warranty costs be recognized in the period of sale of the underlying product?

A. Matching
B. Materiality
C. Full disclosure
D. Revenue recognition
Correct Answer: A

Revenues and the expenses directly related to them must be recorded in the same period.

User Contributed Comments 0

You need to log in first to add your comment.