The matching principle
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) states that the revenues and related expenses should be reported in the same period

Question

Quizplus · Accepted Answer

The matching principle states that the revenues and related expenses should be reported in the same period, which ensures that the income statement accurately reflects the company's profitability for that period.

The Matching Principle