Final answer:
The income statement produced according to the matching or accruals concept aligns revenues and expenses in the period they are incurred, providing a true representation of financial performance.
Step-by-step explanation:
An income statement produced according to the matching or accruals concept aligns revenues and expenses in the period in which they are incurred, regardless of when the cash transactions occur. This accounting method ensures that all revenue and expenses are accounted for in the period they relate to, thus providing a true and fair view of the company's financial performance. Examples of this include recognizing revenue as soon as the service is performed or the product is delivered, and reporting expenses when they are incurred rather than when they are paid.