Home › CS Executive › corpacc › Introduction to Financial and Corporate Accounting › The Matching concept is listed by the lesson alo…
The Matching concept is listed by the lesson alongside Revenue Realisation under the broader head of accounting concepts. Which statement best captures the essence of the Matching concept?
Answer & Solution
Correct answer: B.
1. Matching is one of the listed accounting concepts.
2. It requires recognising expenses in the same period as the revenue they help generate.
3. Cash-only recognition is the cash basis, not the matching concept.
4. Calendar-year mapping and conflating capital with revenue spend do not capture matching.
_Source: ICSI CS Executive Paper 5 (Corporate and Management Accounting) — Lesson 1 & 2: Introduction to Financial and Corporate Accounting, pp. v–vii and x._
Related questions
The lesson sketches a nine-step accounting cycle. Which step is described in the cycle as The Time Period assumption is one of the four listed accounting assumptions. Which statemeThe Business Entity assumption is one of the four listed accounting assumptions. Which staAccounting Standards (AS) are described in the lesson as written policy documents issued bRevenue Realisation is listed in the lesson as an accounting concept. Under this concept, Consistency is listed by the lesson as one of the accounting constraints. Which statement Full Disclosure is listed by the lesson as one of the accounting concepts. Which statementThe lesson cites Historical Cost as an accounting concept. Which statement best captures t