Which of the following principles ensures that the expenses for one time period are matched up with the related revenues for the same time period?
A) The depreciation principle
B) The matching principle
C) The contra principle
D) The mixed account principle

Question

Quizplus · Accepted Answer

The matching principle ensures that the expenses for one time period are matched up with the related revenues for the same time period. This principle ensures that financial statements accurately reflect the financial performance of a business during a particular period. It ensures that expenses are recorded in the same period as the revenue they helped generate, providing a clear picture of profitability.

Which of the Following Principles Ensures That the Expenses for One