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Explain the importance of a contract in the revenue recognitionprocess.

Explain the importance of a contract in the revenue recognitionprocess.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 1Q: Describe the revenue recognition principle. Give specifics.
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