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mina [271]
1 year ago
12

The revenue recognition principle dictates that revenue be recognized in the accounting period in which it is:________

Social Studies
1 answer:
marissa [1.9K]1 year ago
4 0

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

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Answer:

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Groupthink: In psychology, the term "groupthink" is determined as one of the different "psychological phenomena" that ought to occur in a specific group of different individuals who possesses the urge for conformity or harmony in the given group that leads to a dysfunctional, irrational, or irrelevant decision-making outcome.

It was proposed by a social psychologist named Irving L. Janis during 1972 according to whom different people in the group desire for consensus.

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