Question: tl'he accounting profession has employed the matching concept to determine what to report in the income statement and to determine how to measure items reported

tl'he accounting profession has employed the matching concept to determine what

tl'he accounting profession has employed the matching concept to determine what to report in the income statement and to determine how to measure items reported in the income statement. a. Describe and discuss the matching concept and its importance to income reporting. b. Give specific examples (at least two) of how the matching concept is used in practice. c. Describe and discuss the balance sheet approach and its importance to income reporting. d. Give specific examples (at least two) of how the balance sheet approach is used in practice

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