The concept of matching in accounting refers to: all costs that are used to generate revenue are recorded in the period the revenue is recognized. all transactions are recorded at the exchange price. the business is separate from its owners. the business will continue to operate indefinitely unless there is evidence to the contrary.

All costs that are used to generate revenue are recorded in the period the revenue is recognized

Explanation: As per the matching concept of accounting the revenues and expenses incurred to generate those revenues will be recorded in the same period. This concept helps the accountant to ascertain profit and analyze the performance in that particular period.

Thus from the above we can conclude that statement 1 is the correct answer.

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

the answer is true.  i do believe this is the answer because of the amount of wrecks people get into each year.  if you double this with avoiding those so said wrecks, that would make you a "skilled" driver.