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What is the matching concept? The concept of recording transactions, in uncertain circumstances, in such a way that understates revenue and overstates expenses in order
What is the matching concept? The concept of recording transactions, in uncertain circumstances, in such a way that understates revenue and overstates expenses in order to present the financial statements in the most negative light. The concept of recording transactions at the cost that was paid by the company so that financial statement users can rely upon them. The concept of matching the expenses incurred in a given period with the revenue it generate. The cost of the next best choice forgone
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