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  • Accounting & Finance for Bankers - 1 (JAIIB)
  • Expenses and earnings should not be based on the differen...
Multiple choice

Expenses and earnings should not be based on the different years. Which concept states this?

  1. Conservatism Concept

  2. Consistency Concept

  3. Matching Concept

  4. Realization Concept

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Matching Concept states that the revenue and the expenses incurred to earn the revenue must belong to the same accounting period.

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