Explain Matching Concept?

1.	Explain Matching Concept?
Answer» Matching Concept: According to this concept, while calculating the PROFITS during the accounting period in a correct manner, all the expenses and costs incurred during the period, whether PAID or not, should be MATCHED with the INCOME GENERATED during the period. Matching Concept: According to this concept, while calculating the profits during the accounting period in a correct manner, all the expenses and costs incurred during the period, whether paid or not, should be matched with the income generated during the period.

Answer»

Matching Concept:
According to this concept, while calculating the PROFITS during the accounting period in a correct manner, all the expenses and costs incurred during the period, whether PAID or not, should be MATCHED with the INCOME GENERATED during the period.

Matching Concept:
According to this concept, while calculating the profits during the accounting period in a correct manner, all the expenses and costs incurred during the period, whether paid or not, should be matched with the income generated during the period.

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