The asset/liability approach emphasizes matching to determine what assets and liabilities should be reflected on the balance sheet.

Name: The asset/liability approach emphasizes matching to determine what assets and liabilities should be reflected on the balance sheet.
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Quizplus · Accepted Answer

The asset/liability approach focuses on recognizing and measuring the present rights to assets and obligations for liabilities, rather than emphasizing the matching of revenues and expenses.

The Asset/liability Approach Emphasizes Matching to Determine What Assets and Liabilities