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What is the Matching Principle in accounting?
  • a)
    Matching the business income with personal income
  • b)
    Matching expenses with revenues they helped generate
  • c)
    Matching the opening stock with the closing stock
  • d)
    Matching capital receipts with revenue receipts
Correct answer is option 'B'. Can you explain this answer?
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What is the Matching Principle in accounting?a)Matching the business i...
The Matching Principle in accounting states that expenses should be matched with the revenues they helped generate. This ensures that the income statement reflects the true profit or loss for the period.
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What is the Matching Principle in accounting?a)Matching the business income with personal incomeb)Matching expenses with revenues they helped generatec)Matching the opening stock with the closing stockd)Matching capital receipts with revenue receiptsCorrect answer is option 'B'. Can you explain this answer?
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