In general, the purpose of the matching principle is to ensure the matching of ____ and _____ in a the appropriate time period. none of the above assets, liabilities revenues, expenses expenses, net income Per the book, the following statement is true about the income statement: It is the accountants best efforts to show sales and costs incurred at a point of time net income is an estimate None of the above If a company is making a profit in a given time period it will have the cash to pay its bills Pro forma financial statements are recognized as factual projections of future activity and are presented in summary form in the 10K. True False GAAP are the accounting pronouncements that are an option in regards to compliance by public companies (they are strongly encouraged). True False