The principle that states revenue should be recognized when earned,regardless of when cash is received, is called the:a) Cash basis principleb) Revenue recognition principlec) Matching principled) Accrual basis principle

Explanation of Cash Basis Principle: The Cash Basis Principle dictates that revenue and expenses are…

Answered: The principle that states revenue…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 3MC: Revenues and expenses must be recorded in the accounting period in which they were earned or...

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The principle that states revenue should be recognized when earned, regardless of when cash is received, is called the: a) Cash basis principle b) Revenue recognition principle c) Matching principle d) Accrual basis principle