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WAEC Financial Accounting 2024 Question 19

Question 19

Accounting Concepts and Conventions

The concept that underlies the comparing of expenditure for a period with the revenue of same period is

  1. A.accrual concept.
  2. B.money measurement concept.
  3. C.matching concept.
  4. D.dual aspect concept.
Show the answer and explanation

Answer: C (matching concept.)

Explanation

Matching sets the costs of a period against the revenue of the same period.