The matching concept is closely related to the cash basis of accounting.

Name: The matching concept is closely related to the cash basis of accounting.
Brand: Quizplus
Rating: 4.8 (33 reviews)

Question

Quizplus · Accepted Answer

The matching concept is a fundamental principle of accrual accounting, which matches revenues with their corresponding expenses. This concept is not closely related to the cash basis of accounting, as the cash basis only records transactions when cash is exchanged, without regard for the timing or matching of revenues and expenses.

The Matching Concept Is Closely Related to the Cash Basis