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  3. presented below is a list of terms relating to eco

Presented below is a list of terms relating to economic measurement, followed by definitions of...

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Accounting

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Presented below is a list of terms relating to economic measurement, followed by definitions of those terms: Required: Match the letter next to each term on the list with the appropriate definition. Each letter will be used only once. [Choose) A basis of accounting in which revenue is recognized when associated cash is received and expenses are recognized when associated cash is paid The association of revenue with expenses that helped to generate the revenue [Choose] matching principle depreciation deferred revenues Recording and reporting an economic event recognition straight-line depreciation The systematic and rational conversion of a long-lived asset's cost from asset to expense cash basis accounting in the income statement periods benefited realization A periodic depreciation method that [Choose] calculates annual depreciation expense as the asset's depreciable base divided by its estimated useful life Actual receipt of cash or payment of cash [Choose) V Liabilities recorded under the accrual basis when cash is received before the revenue is earned [Choose

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