Practice Matching Concept - 6.2.6 | 6. Accounting Concepts | ICSE Class 11 Accountancy
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6.2.6 - Matching Concept

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What does the matching concept signify?

💡 Hint: Think about how expenses and revenues relate.

Question 2

Easy

Why is it important to match expenses with revenues?

💡 Hint: Consider the implications of accuracy in financial reporting.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does the matching concept require?

  • Record expenses when paid
  • Match expenses with revenues
  • Ignore unrelated expenses

💡 Hint: Think about how financial transactions are connected.

Question 2

True or False: The matching concept can lead to misstated financial statements.

  • True
  • False

💡 Hint: Consider the risks of inaccurate calculations.

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company manufactures furniture. In March, it incurs costs of ₹50,000 for raw materials and earns ₹100,000 from sales in April. How should the matching concept apply?

💡 Hint: Align costs with the period in which the sales are recorded.

Question 2

A retail store runs a promotional campaign during the holiday season, incurring ₹20,000 in costs in November but only generating related sales of ₹35,000 in December. How does this demonstrate the matching concept?

💡 Hint: Focus on the timing of expense recognition relative to revenue realization.

Challenge and get performance evaluation