Select the phrase below that best completes the following statement: According to the matching principle,
a. The amount of cash collected should be matched and recognized in the same period as the related revenue.
b. Expenses should be matched and recognized in the same period as the related revenue.
c. The amount of cash collected should be matched and recognized in the same period as the related expense.
d. Revenue should be matched and recognized in the same period as the related cash collection.
e. Expenses should be matched and recognized in the same period as the related shareholder investment.
Cash-Basis Accounting