Expenses are reported on the income statement when the related revenue is recognized.This is the ________ principle.
A)historical-cost
B)full-disclosure
C)matching
D)revenue recognition

Question

Quizplus · Accepted Answer

The matching principle states that expenses should be recognized on the income statement in the same period as the revenue that was earned as a result of those expenses. This ensures that the income statement accurately reflects the profitability of the business for a given period.

Expenses Are Reported on the Income Statement When the Related