CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Matching Concept

Matching conc...

Question

Matching concept means:

A

Assets = capital + liabilities

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Transactions recorded at accrual concept

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Anticipate no profit but recognize all losses

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Expenses should be matched with the revenue of the period

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D
Expenses should be matched with the revenue of the period

Matching concept means that expenses should be matched with the revenue of the period.

Suggest Corrections

thumbs-up

0

Similar questions

Q. The revenue recognition principal dictates that all types of incomes should be recorded or recognized when ___________________.

Q. The matching concept means that the period of both expenses and revenues should match the period of .

Q. As per ______ concepts in order to determine the profit earned or loss suffered by the business in a particular defined accounting period, it is necessary that expenses of the period should be matched with the revenues of that period.

Q. Assertion :The matching concept requires that costs should be recognised as expenses in the period in which revenue is realised. Reason: There may not be a matching between expenditure and expense over a short period.

Q. Which of the following are common accounting concept?
W. Accrual concept
X. Evidence concept
Y. Matching concept
Z. Reliability concept.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

GAAP and Basic Accounting Concepts

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Matching Concept

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon