The accounting concept that states expenses should be recognized in the same period with the revenues they helped to produce is the
A) contra-account principle.
B) allowance method.
C) matching principle.
D) uncollectible accounts technique.

Question

Quizplus · Accepted Answer

The matching principle states that expenses should be recognized in the same period with the revenues they helped to produce. This means that the expenses related to generating revenue should be recognized in the same period as the revenue is recognized, resulting in more accurate financial statements. The contra-account principle, allowance method, and uncollectible accounts technique are all related to accounting treatments for specific types of transactions, but they are not directly related to the recognition of expenses and revenue in the same period.

The Accounting Concept That States Expenses Should Be Recognized in the Same