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Answer to Question #82594 in Accounting for Okunade fatimah

Question #82594
What is the difference between Prudence concept and Matching concept? Using two sentences
1
Expert's answer
2018-11-02T12:45:09-0400

According to the prudence concept, revenues should not be overestimated, and expenses must not be underestimated. Matching concept states that firm recognizes revenues and expenses at the same time.

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