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
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
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 9GI: Give an example and explanation for each of the following differences between when revenues are...
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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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fec10752d-3824-437e-913a-0b5836a73f58%2F24dbc7f4-bebb-4d3c-a757-ddbab397354e%2F8qzc6vc_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
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