The revenue recognition principle dictates that revenue be recognized in the accounting period in which <u>the performance obligation is satisfied.</u>
<u></u>
The revenue recognition principle is a feature of accrual accounting which requires that revenues are recognized on the income statement, in that time period when they are earned and realized, not necessarily when the cash is received.
The principle is important because it enables a business to show profit and loss accurately, since the revenue is recorded when it is earned, not when it is received. Usage of this principle also helps with financial projections, which allows the businesses to project future ventures more accurately.
To learn more about revenue recognition principle, click
brainly.com/question/28204542
#SPJ4
Benjamin Franklin made it dependable as it’s first postmaster General
Answer:
im have to say a choice between. why are some people for or against raising the minimum driving age? and when should teenagers be able to drive
Explanation:
The Prohibition Party is an example of <u>"a party that has only one goal".</u>
The Prohibition Party (PRO) refers to a political party in the United States best known for its noteworthy resistance to the deal or utilization of mixed drinks. It is the most established existing outsider in the US. The gathering is a fundamental piece of the restraint development. While never one of the main gatherings in the United States, it was previously a vital power in the Third Party System amid the late nineteenth and mid twentieth hundreds of years.
