Matching Concept in Accounting: Definition & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The matching principle in accounting means that which things are recorded in the same period?

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1. The matching principle ensures that what does not happen?

2. What happens if you violate the matching principle in accounting?

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About This Quiz & Worksheet

This worksheet and quiz will assess your understanding of the matching concept in accounting. You will need to grasp topics like what the matching concept in accounting means and the areas that make use of the matching concept.

Quiz & Worksheet Goals

Use these study assessments to:

  • Understand the result of violating the matching principle in accounting
  • Recognize the matching concept's function related to warranties
  • Compute the interest accrued during an accounting period

Skills Practiced

These helpful study skills will be practiced:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on the matching concept in accounting
  • Interpreting information - verify that you can read information regarding ways the matching concept can be applied within a company and interpret it correctly
  • Information recall - access the knowledge you've gained regarding how to compute interest that occurred during an accounting period

Additional Learning

Use the lesson to render your understanding of the matching concept in accounting. The lesson is entitled Matching Concept in Accounting: Definition & Example, and it will cover the following:

  • Define the matching principle
  • Understand the purpose of recording accrued interest
  • Be able to explain the use of warranties
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