The accounting principle that ensures all expenses are recorded when they are incurred during the period and offsets those expenses against the revenues of the period,is called the ________ principle.
A)comparison
B)accrual
C)matching
D)revenue recognition

Question

Quizplus · Accepted Answer

The matching principle requires that expenses incurred during a period be recorded in the same period and matched against the revenues generated during that period. This ensures that the expenses directly related to generating revenues are properly reflected in the financial statements, providing a more accurate representation of the company's financial performance.

The Accounting Principle That Ensures All Expenses Are Recorded When