The core revenue recognition principle stipulates that companies recognize revenue when goods or services are:_______

1 answer:

Colt1911 [192]2 years ago

8 0

The core revenue recognition principle stipulates that companies recognize revenue when goods or services are transferred to customers.

In accordance with generally accepted accounting principles (GAAP), revenue recognition specifies the circumstances under which revenue should be recorded and how it should be accounted for. A significant event usually triggers the recognition of revenue, and the corporation can simply quantify the financial amount.

The foundation of any corporate performance is revenue. The sale is the keystone. Regulators are aware of how alluring it may be for businesses to stretch the boundaries of what constitutes income, particularly when not all cash is collected until the task is finished. Attorneys, for instance, bill their clients according to billable hours and then present the invoice. Clients are frequently billed by the percentage of completion by construction managers.

To learn more about revenue recognition here,

brainly.com/question/26706722

#SPJ4

You might be interested in

It's a very hot summer day and Ai is sweating in her apartment. She turns on the air-conditioning and right away her apartment g

liubo4ka [24]

Answer:

Negative Reinforcement.

Explanation

This is an example of negative reinforcement.

4 0

3 years ago

Before her death, Irene contacted her estranged sister and made amends. She took control of the time she had left, and confronte

lesantik [10]

Answer:

appropriate

Explanation:

Irene had an appropriate death. She resolved all the things that were pending in her life, accepted that death comes for all and move on with no weight in conscience or remorse, until the end of her life. For this reason, he took the initiative to make peace with his sister, take control of his remaining time, and face death appropriately and honorably. Only then could she truly rest in peace.

4 0

3 years ago

La Défense is an edge city constructed in the late twentieth century and characterized by high-rise office buildings. Which of t

ANTONII [103]

Answer: the land at the center of Paris is filled numerous historical buildings that residents do not want torn down.

Explanation:

4 0

3 years ago

Which group(s) are excluded from the rights described in the Declaration of Independence?

sashaice [31]

the main ones are woman and african americans

4 0

3 years ago

How does the fact that knowing John Marshall was a Federalist influence this case?

zubka84 [21]

Upheld the right of Congress to charter a national bank. This wrote into national law the "doctrine of implied powers". This gave the federal government greater power over the power of the states. Therefore, the federal government became the sole repository of writing laws that could not be over turned by any state statute.

6 0

3 years ago