Accounting · Accounting Concepts and Principles
Which of the following aligns with the core objective of the 'Matching Concept' in accounting?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Recognition of profits is deferred indefinitely to avoid tax liability.
- 2Transactions are recorded on a pure cash basis only.
- 3Expenses incurred to earn revenue in a period must be matched with that revenue.✓
- 4Revenues of the current period are completely ignored.
Correct answer
Expenses incurred to earn revenue in a period must be matched with that revenue.
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