Matching Principle in Accounting: Definition & Examples

Instructions:

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question 1 of 3

The matching principle allocates the costs of _____ over the time or uses that they will be used.

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1. The two principal ways that the matching principle is applied are:

2. If a company starts the month with $120 worth of office supplies, purchases $825 worth of office supplies during the month, and ends the month with $170 worth of office supplies on hand, their office supplies expense is:

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About This Quiz & Worksheet

This quiz and corresponding worksheet will help you gauge your knowledge of the matching principle in accounting. You'll be tested on key concepts related to this topic. You will be specifically tested on what the matching principle allocates as well as knowing how the matching principle is applied.

Quiz & Worksheet Goals

You will review the following:

  • Definition of the matching principle
  • Two ways the principle is applied
  • Problem calculating office expenses
  • What most depreciation methods include
  • Why the matching principle is necessary

Skills Practiced

  • Interpreting information - verify you can read information regarding why the matching principle is necessary and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the two ways the principle is applied
  • Problem solving - use acquired knowledge to solve a problem calculating office expenses

Additional Learning

Make sure to also read the lesson called Matching Principle in Accounting: Definition & Examples. This lesson will help you:

  • Understand what the matching principle is
  • Identify the roles of time periods in the matching principle
  • Describe the two primary methods of applying the principle
  • Explain how to calculate expenses using the principle
  • Appreciate why the principle is important in accounting
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