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      Question

      The "Matching Principle" requires

      that:
      A Assets must match liabilities. Correct Answer Incorrect Answer
      B Revenue of a period must be matched with expenses of that same period. Correct Answer Incorrect Answer
      C The Trial Balance must match. Correct Answer Incorrect Answer
      D Cash inflows must match cash outflows. Correct Answer Incorrect Answer
      E Closing stock must match opening stock. Correct Answer Incorrect Answer

      Solution

      This principle ensures that the profit or loss for a period is accurately determined by associating relevant expenses with the revenue earned in that period.

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