The approach to preparing financial statements based on recognizing revenues when they are earned and matching expenses to those revenues is:
a) accrual basis accounting.
b) revenue basis accounting.
c) the expense recognition (matching) principle.
d) cash basis accounting.
e) the time period assumption.

Asap describe three different expenses associated with restaurants. choose one of these expenses, and discuss how a manager could handle this expense.

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Juan's investment portfolio was valued at $125,640 at the beginning of the year. during the year, juan received $603 in interest income and $298 in dividend income. juan also sold shares of stock and realized $1,459 in capital gains. juan's portfolio is valued at $142,608 at the end of the year. all income and realized gains were reinvested. no funds were contributed or withdrawn during the year. what is the amount of income juan must declare this year for income tax purposes?