By matching your income with the expenses of a given period.. you do not over-state nor under-state the value of the business thus giving you the "true" profit ofthe business. By matching your income with the expenses of a given period.. you do not over-state nor under-state the value of the business thus giving you the "true" profit ofthe business.
Matching revenues and expenses is called "Matching concept" of Accounting.
True
Advantages: Easy to use Matches Cost to revenues (Matching Concept) Disadvantages: Depreciation can not be charged when the Asset is not in use.
Matching concept is the basis for accrual accounting system so Yes they are same.
balance sheet
concept of pacing or matching and mirroring another individual
Matching revenues and expenses is called "Matching concept" of Accounting.
True
Advantages: Easy to use Matches Cost to revenues (Matching Concept) Disadvantages: Depreciation can not be charged when the Asset is not in use.
Matching concept
Matching concept is the basis for accrual accounting system so Yes they are same.
yes
balance sheet
Accrual concepts use the matching of expenses to get an overall picture of a person's account. A realization concept is based on the results of the accrual process.
matching of enzyme with the substrate
The accrual concept concerns the matching of costs and revenues for the reporting period.
It uses the matching concept which provides more accurate reporting that's why it is recommended to be used.