Intermediate Accounting 14th Edition

by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.

Published by Wiley

ISBN 10: 0470587237

ISBN 13: 978-0-47058-723-2

Chapter 2 - Conceptual Framework for Financial Reporting - Concepts for Analysis - Page 77: CA2-7e

Answer

Costs are usually matched with corresponding revenues. Costs are treated as losses when they do not result in the corresponding revenue generation.

Work Step by Step

Costs are usually matched with corresponding revenues. Costs are treated as losses when they do not result in the corresponding revenue generation.

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