Accountancy, asked by ss2193266, 9 months ago

ULIUS
1. What is the Matching Concept? Why should a business concern follow this concept?
Discuss.
(KVS 2004)

Answers

Answered by jairamgupta83

Answer:

The business entities follow this concept mainly to ascertain the true profit or loss during an accounting period. It is possible that in the same accounting period, the business may either pay or receive payments that may or may not belong to the same accounting period.

Explanation:

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