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_ are needed to ensure that the revenue recognition and matching principles are followed

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Final answer:

To ensure that revenue recognition and matching principles are followed, segregation of duties, documentation of transactions, and regular reconciliations are important.

Step-by-step explanation:

To ensure that the revenue recognition and matching principles are followed, certain controls and procedures can be implemented. These include:

  1. Segregation of duties: Assigning different individuals to handle key aspects of the revenue recognition and matching processes helps prevent errors or wrongdoing.
  2. Documenting transactions: Detailed records of sales, expenses, and other financial activities should be maintained to ensure accurate revenue recognition and matching.
  3. Regular reconciliations: Periodic reconciliations of financial records with bank statements and other data sources help identify discrepancies and ensure the accuracy of revenue recognition and matching.
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