Question Details

ACCTG 1A Week 3 Homework Assignment

a.	The span of time covered by an income statement			

b.	The sequence of accounting procedures used to record, classify and summarize accounting information.								

c.	The traditional accounting practice of resolving uncertainty by choosing the solution that leads to the lowest amount of income being recognized			

d.	An increase in owner- equity resulting from profitable operations.	

e.	The underlying accounting principle that determines when revenue should be recorded in the accounting period.										
f.	The type of entry used to decrease an asset or increase a liability or owner- equity account.


g.	The underlying accounting principle of offsetting revenue earned during an accounting period with the expenses incurred in generating that revenue			

h.	The costs of the goods and services used up in the process of generating revenue.