Revenues and expenses should be recorded in the same period to which they relate.

Question

Keira Morrow · Accepted Answer

Final Answer : True, Explanation :  This is the fundamental principle of accrual accounting, which recognizes revenues and expenses in the period in which they are earned or incurred, regardless of when cash is received or paid out. This allows for more accurate financial reporting and better decision-making.

Revenues and expenses should be recorded in the same period to which they relate.

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