Question

Which accounting principle dictates whether the cost of a repair should be​ expensed?

a. conservatism
b. objectivity
c. entity
d. matching?

Answer 1

Which accounting principle dictates whether the cost of a repair should be​ expensed?

d. matching

As per matching concept, All revenues have to be recorded along with expenses incurred to earn those revenues. Thus, revenues need to be accounted.