New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Salaries of ₹1 lakh paid in April 2024 relate to March

    2024. As per matching concept, when should this expense be recorded?
    A April 2024 Correct Answer Incorrect Answer
    B March 2024 Correct Answer Incorrect Answer
    C When actually paid Correct Answer Incorrect Answer
    D Not to be recorded Correct Answer Incorrect Answer

    Solution

    Matching concept requires expense to be matched with related revenue period, i.e., March 2024

    Practice Next