Question

What is a matching concept? Why should a business concern followe this concept ? Discuss?

Answer 1

Explanation:

Answer. Matching Concept states that all expenses incurred during the year, whether paid or not, and all revenues earned during the year, whether received or not, should be taken into account while determining the profit of that year.

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Answer 2

Answer:

It is the concept which dates that all the expenses whether they are paid or not and all the revenues whether they are received or not, are recorded in profit or loss account of that particular year

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