Which of the Following Accounting Elements Does the Matching Principle

question 190

Multiple Choice

Which of the following accounting elements does the matching principle help to match?

• A) revenues and liabilities
• B) expenses and assets
• C) expenses and revenues
• D) expenses and liabilities

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Definitions:

Quantity Demanded

The aggregate quantity of a product or service that buyers are ready and capable of buying at a particular price point.

Surplus

An excess of what is needed or used, typically referring to goods, services, or resources exceeding what is required.

OPEC

The Organization of the Petroleum Exporting Countries, a group of oil-producing nations that coordinate petroleum policies and prices globally.

Price Ceiling

A government-imposed maximum price that can be charged for a good or service, intended to protect consumers.