Question

The matching concept means ____________.

• A. that the period of both expenses and revenues should match the period of cashbook
• B. that the period of revenues should match the period of profit or loss account
• C. that the period of both expenses and revenues should match the period of profit or loss account
• D. None of these

Answer 1

The correct option is C

that the period of both expenses and revenues should match the period of profit or loss account

The matching concept means that the period of both expenses and revenues should match the period of profit or loss account