Quickbooks ch 10 quiz - Study guides, Class notes & Summaries

Prudence The methods least likely to overstate assets and income are used. Consistency The same accounting methods are used year to year. Revenue recognition Publicly traded companies record when revenue is earned. Objectivity Business statements are impartial and absent of bias. Create delayed charges for the services as completed. How can you keep track of services performed before adding charges to an invoice? Financial Accounting and Services Board What agency sets the GAAP princip...