KThe revenue principle requires that a business records revenue when the business:A receives payment from a customer.ⒸB. performs a service or delivers a product and not before.C. prepares the invoice for the customer.OOOD. receives an order from a customer.

The revenue principle, also known as the revenue recognition principle, is a fundamental accounting…

The revenue principle requires that a business records revenue when the business: A receives payment from a customer. B. performs a service or delivers a product and not before. OC. prepares the invoice for the customer. OD. receives an order from a customer.

The revenue principle requires that a business records revenue when the business: A receives payment from a customer. B. performs a service or delivers a product and not before. OC. prepares the invoice for the customer. OD. receives an order from a customer.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 19MC: At what point does revenue recognition occur? A. When the purchase order is received B. When the...

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K
The revenue principle requires that a business records revenue when the business:
A receives payment from a customer.
ⒸB. performs a service or delivers a product and not before.
C. prepares the invoice for the customer.
OO
OD. receives an order from a customer.

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