Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 44 - No. 6)
What is the 'matching principle' primarily concerned with?
Matching assets with liabilities.
Matching revenues with expenses in the same accounting period.
Matching debits and credits.
Matching current assets with current liabilities.
Explanation
The matching principle requires expenses to be recognized in the same period as the revenues they help generate.
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