What does it mean by the matching principle in accounting? (a) Expenses are matched with the generation

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What does it mean by the matching principle in accounting?

(a) Expenses are matched with the generation of revenues to determine net income for an accounting period.

(b) Generation of revenues are matched with expenses to determine net income for the previous period.

(c) Generation of revenues are matched with asset purchases to determine the efficiency of asset usage.

(d) Expenses are matched with asset purchases to determine the return on investment.

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Understanding Financial Statements

ISBN: 9781292101552

11th Global Edition

Authors: Lyn Fraser, Aileen M. Ormiston

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Question Posted: Mar 20, 2024 12:00 AM

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What does it mean by the matching principle in accounting? (a) Expenses are matched with the generation

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Understanding Financial Statements

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