Which accounting principle requires that revenue be recognized when it is earned, regardless of when payment is received? A. Matching Principle B. Revenue Recognition Principle C. Historical Cost Principle D. Full Disclosure Principle

Which accounting principle requires that revenue be recognized when it is earned, regardless of when payment is received? A. Matching Principle B. Revenue Recognition Principle C. Historical Cost Principle D. Full Disclosure Principle

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter9: Auditing The Revenue Cycle.

Section: Chapter Questions

Problem 1RQSC: Refer to Exhibit 9.1. Which accounts are relevant in the revenue cycle? Identify the relationships...

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Question

Which accounting principle requires that
revenue be recognized when it is earned,
regardless of when payment is received?
A. Matching Principle
B. Revenue Recognition Principle
C. Historical Cost Principle
D. Full Disclosure Principle

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Similar questions

Refer to Exhibit 9.1. Which accounts are relevant in the revenue cycle? Identify the relationships among them.
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