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  3. the matching principle states that: a. the expense

The matching principle states that: a. The expenses of a business should be recorded in...

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Accounting

The matching principle states that:

a. The expenses of a business should be recorded in the periods in which the corresponding revenues are earned.

b. Transactions carried out by a business are separated from those conducted by its owner.

c. Financial statements must be free from bias and based on verifiable evidence.

d. Assets and liabilities are recorded on the financial statements at the cost at which they were acquired or assumed.

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