The expense recognition principle, also called the matching principle: Multiple Choice

Provides guidance on when a company must recognize revenue.
Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
Prescribes that accounting information is based on actual cost.
Prescribes that a company report the details behind financial statements that would impact users' decisions.
Prescribes that a company record the expenses it incurred to generate the revenue reported.

As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. as a result, she loses half of her productive farmland. if the property of diminishing returns applies to all factors of production, she should expect to seea. a decrease in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. b. an increase in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. c. an increase in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor. d. a decrease in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor.