Some liabilities must be estimated so that they can be recorded in the same period as the related revenues.What is violated if these amounts are not recorded in the same period as the related revenues?

Question

Quizplus · Accepted Answer

The matching principle requires that expenses be recorded in the same period as the revenues they help to generate. If liabilities relating to those revenues are not recorded in the same period, the matching principle is violated.

Some Liabilities Must Be Estimated So That They Can Be