What does the matching principle in accrual accounting require regarding revenues?

The matching principle in accrual accounting stipulates that revenues should be recognized when the earnings process is complete, which typically occurs when goods or services have been delivered or performed, regardless of when cash is received. This principle is fundamental because it aligns the recognition of revenues with the expenses incurred to generate those revenues during the same accounting period.

By matching revenues and expenses, financial statements can provide a clearer picture of a company's financial performance during a specific time frame. This approach ensures that the income statement reflects the true profitability of a company by indicating the revenues earned in conjunction with the costs associated with generating those revenues. Hence, option C accurately articulates this essential characteristic of accrual accounting.