The matching principle is also called:
A)adjusting entry concept.
B)revenue recognition principle.
C)expense recognition principle.
D)time period concept.

Question

Quizplus · Accepted Answer

The matching principle is also known as the expense recognition principle, which states that expenses should be recognized in the same period as the related revenues. This principle helps in determining the accurate net income for a particular period. The adjusting entry concept and time period concept also relate to accounting periods, while revenue recognition principle deals with recognizing revenue when it is earned, regardless of when it is received. Therefore, option C is the best choice.

The Matching Principle Is Also Called