Accounting Discussion Questions

DQ#1

What is the revenue recognition principle? What is the expense recognition principle? Why are these important to financial reporting?

DQ# 2

What are adjusting entries? Why are these necessary? ;

DQ# 3

What are deferrals? What are some examples of deferrals? Why do deferrals require adjusting entries?

NOTE*** These questions do not need to be in APA Format – YOU DO not need to provide references! and there is no specific word count. ;

Financial_Accounting_6e_Ch04 (1).pdf ;