Revenues and expenses should be recorded in the same period to which they relate.

Question

Analiz Rivera · Accepted Answer

Final Answer : True, Explanation :  This is the matching principle of accounting which states that revenues should be recognized when earned and expenses should be recognized when incurred, regardless of when the cash is actually received or paid. This ensures accurate financial reporting and reflects the true financial position of the entity.

Revenues and expenses should be recorded in the same period to which they relate.

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