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The Expense Recognition (matching)principle Requires That Expenses Be Recorded in the Some Accounting Period as the Revenues That Are

Problemas

The expense recognition (matching)principle requires that expenses be recorded in the some accounting period as the revenues that are recognized as a result of those expenses. True or False True

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Sergio maestro · Tutor durante 5 años
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Respuesta

True. The expense recognition (matching) principle is a fundamental accounting concept that requires expenses to be recorded in the same accounting period as the revenues they help generate. This ensures that financial statements accurately reflect the financial performance of a business during a specific period by matching related revenues and expenses.