The Matching Principle of accounting states that we should record revenues and the expenses related to those revenues in the same period. If we did not adopt the Matching Principle of accounting, what would be the effect on our financial statements in the short term, and in the long term? Adopting the Matching Principle of accounting requires that accountants do more work. Is it really worth the additional effort?

Answer rating: 100% (QA)

YesIt is rightly said that As per matching principle WE should record revenues and expenses related ... View the full answer