The matching principle is best described as: A. Expenses are recognized in the same period as the
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The matching principle is best described as:
A. Expenses are recognized in the same period as the related revenue based on the assumption that there is a cause-and-effect relationship.
B. Expenses are recognized when the related cash is received.
C. Revenue is recognized when related expense is incurred.
D. Revenue is recognized to balance the accounting equation.
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