Problem on generally accepted accounting principles, Accounting Basics

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Problem on generally accepted accounting principles

Question: Which of the following options is inconsistent with generally accepted accounting principles? Group of answer choices Expenses directly associated with particular revenues are recognized at the time they are incurred. Assets are revalued upwards to account for the effect of inflation. Fiscal year ends cannot be changed at will. Revenues are recognized at the time they are earned.

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Accounting Basics: Problem on generally accepted accounting principles

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