Expenses must be recorded in the same period as the revenues they help…

Question

Expenses must be recorded in the same period as the revenues they helped earn. That rule is the:

Accepted Answer

C. Matching principle

1. Costs are lined up with revenues.
2. The period is what matters.
3. It is the matching principle.
_Source: OpenStax Principles of Financial Accounting, Chapter 3, Analyzing and Recording Transactions._

Answer

Maximum principle

Answer

Merger principle

Answer

Monetary principle

Expenses must be recorded in the same period as the revenues they helped earn. That rule is the:

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