The matching principle determines whether the normal balance

The matching principle determines whether the normal balance of an account is a debit or credit requires that the dollar amount of debits equal the dollar amount of credits on a trial balance addresses the relationship between the journal and the balance sheet states that the revenues and related expenses should be reported in the same period

Solution

D. states that the revenues and related expenses should be reported in the same period.

The matching principle requires expenses be recorded in the same period that the related revenue is recorded.

 The matching principle determines whether the normal balance of an account is a debit or credit requires that the dollar amount of debits equal the dollar amou

Get Help Now

Submit a Take Down Notice

Tutor
Tutor: Dr Jack
Most rated tutor on our site