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21-10-2019
Business

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Why are accountants concerned with the timing in the recording of purchases?

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NickMagnus NickMagnus

22-10-2019

Answer:

Due to the matching principle.

Explanation:

The matching principle is important to direct a company based on the timing to report an expense on its income statement. This timing is based on the period in which the related revenues are earned.

Reference: Averkamp, Harold. “What Is the Matching Principle?: AccountingCoach.” AccountingCoach.com, 2019

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