The matching objective directs accountants as to when to record expenses on the income statement to be matched against liabilities on the balance sheet.

Name: The matching objective directs accountants as to when to record expenses on the income statement to be matched against liabilities on the balance sheet.
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Question

Quizplus · Accepted Answer

The matching principle directs accountants to record expenses in the same period as the revenues they help to generate, not against liabilities on the balance sheet.

The Matching Objective Directs Accountants as to When to Record