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The concept that requires recording expenses and related revenues in the same accounting period is known as:
  • a)
    Accrual Principle
  • b)
    Conservatism Principle
  • c)
    Matching Principle
  • d)
    Cost Principle
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
The concept that requires recording expenses and related revenues in t...
The Matching Principle requires that expenses be recorded in the same accounting period as the revenues they help to generate, ensuring that each period's net income or loss reflects the actual economic activity.
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The concept that requires recording expenses and related revenues in the same accounting period is known as:a)Accrual Principleb)Conservatism Principlec)Matching Principled)Cost PrincipleCorrect answer is option 'C'. Can you explain this answer?
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