The realization principle indicates that revenue should be recorded in the accounting records: when cash is collected from customers when goods are sold or services are provided to customers at the end of the accounting period only when the revenue can be matched by an equal dollar amount of expenses
The realization principle indicates that revenue should be recorded in the accounting records: when cash is collected from customers when goods are sold or services are provided to customers at the end of the accounting period only when the revenue can be matched by an equal dollar amount of expenses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter5: Income Statement: Reporting The Results Of Operating Activities
Section: Chapter Questions
Problem 6Q
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