Practice mode Principles of Accounting

Which accounting concept requires expenses to be recorded in the same period as the revenues they help to earn?

Correct answer B. Matching concept

Explanation

The matching concept pairs revenues with the expenses incurred to earn them in the same accounting period, so that profit for that period is measured correctly.

Report a problem

Answer checked How we write and check questions

Tip: press A, B, C or D to answer, and N for the next question.

Advertisement

Have a question about this answer?

Your email address will not be published. Required fields are marked *

Links and website addresses are not allowed in comments.