Quiz 2 - ACC 311 Quiz 2 5 points each Ver A&B PRINT NAME UT ID SECTION 8:00AM or 9:30AM or 2:00PM 1 True or False The matching principle requires that

Quiz 2 - ACC 311 Quiz 2 5 points each Ver A&B PRINT NAME UT...

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ACC 311 – Quiz 2 – 5 points each Ver A&B PRINT NAME & UT ID _______________________________________ SECTION: 8:00AM or 9:30AM or 2:00PM 1.True or FalseThe matching principlerequires that revenues are recorded when they are earned.The matching principle speaks to expenses not revenues.2.Which side of the journal entry INCREASESthe balance for the following account: Cost of Goods Sold? 3. True or False 4. On July 1st, 2012 the University of Texas (UT) received $6,000 in cash from several fans for

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