The concept of matching revenue and expense refers to the fact that expenses for a period...

  

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The concept of matching revenue and expense refers to the fact that expenses for a period equal the revenues for the period all costs incurred in the process of earning revenues during a period are recorded as expenses in that period all cash disbursements during a period are subtracted from all cash receipts during the period O costs incurred in the process of earning revenues during a period are deferred and expensed in a future period References The concept of matching revenue and expense refers to the fact that expenses for a period equal the revenues for the period all costs incurred in the process of earning revenues during a period are recorded as expenses in that period all cash disbursements during a period are subtracted from all cash receipts during the period O costs incurred in the process of earning revenues during a period are deferred and expensed in a future period References

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Revenue describes income earned through the provision G of bu... View the full answer