Assertion (A): The matching concept requires that costs should be recognised as expenses in the period in which revenue is realised
Reason (R): There may not be a matching between expenditure and expense over a short period
In the context given above, which one of the following is correct?

A) Both A and R are true, and R is the correct explanation of A B) Both A and R are true, but R is not a correct explanation of A C) A is true, but R is false D) A is false, but R is true

Answer & Solution

Correct Answer: Option B

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Assertion (A) The matching concept requires that costs should be recognised...

Assertion (A): The matching concept requires that costs should be recognised as expenses in the period in which revenue is realised Reason (R): There may not be a matching between expenditure and expense over a short period In the context given above, which one of the following is correct?

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Related Questions on Accounting

Assertion (A): The matching concept requires that costs should be recognised as expenses in the period in which revenue is realised
Reason (R): There may not be a matching between expenditure and expense over a short period
In the context given above, which one of the following is correct?