Which of the following financial statements is impacted most significantly by the matching concept?
A)Balance sheet
B)Income statement
C)Statement of changes in stockholders' equity
D)Statement of cash flows

Question

Quizplus · Accepted Answer

The matching concept is an accounting principle of recognizing expenses in the same accounting period as the revenues they produce.Revenues and expenses are reported on the income statement.

Which of the Following Financial Statements Is Impacted Most Significantly