Accounting is concerned primarily with matching:
A)cost-based revenue and expenses
B)tax liability and future cash flows
C)revenue and long term debt
D)inventory and cost of sales

Question

Quizplus · Accepted Answer

Accounting is primarily concerned with matching cost-based revenue and expenses in order to determine profit or loss for a period of time. This involves recording and reporting all financial transactions accurately and in a timely manner, so that financial statements can be prepared and analyzed. Accounting also involves managing assets and liabilities, and ensuring compliance with regulatory requirements.

Accounting Is Concerned Primarily with Matching