The matching concept
A) addresses the relationship between the journal and the balance sheet
B) determines whether the normal balance of an account is a debit or credit
C) requires that the dollar amount of debits equal the dollar amount of credits on a trial balance
D) determines that expenses related to revenue be reported at the same time the revenue is reported

Question

Quizplus · Accepted Answer

The matching concept requires that expenses related to revenue be reported at the same time the revenue is reported. This ensures that financial statements accurately reflect the expenses incurred to generate the revenue.

The Matching Concept