Accounting is concerned primarily with matching _____.
A) cost-based revenues and expenses
B) tax liability and future cash flows
C) revenue and long-term debt
D) inventory and cost of sales

Question

Quizplus · Accepted Answer

Accounting is concerned with matching cost-based revenues and expenses to determine the profitability and financial health of a business. This involves accurately recording and reporting all financial transactions, including income and expenses, and ensuring that they are properly allocated and matched to the appropriate accounting period. By matching revenues and expenses, accounting provides valuable information on the profitability of a business and its ability to generate a return on investment.

Accounting Is Concerned Primarily with Matching _____