The revenue recognition principle dictates that revenue be recognized in the accounting period in which <u>the performance obligation is satisfied.</u>
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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.
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Answer:
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Explanation:
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Answer:
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Explanation:
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<em>The Mountains and Basins region does not have sub regions. The Coastal Plains region includes about one-third of Texas. It extends east and south from the Balcones Escarpment to the Gulf of Mexico. Most of Texas's large cities are in the Coastal Plains.</em>
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Concerning global issues, president Wilson had strong beliefs and principles. A challenge by president Wilson establish postwar peace through Europe. His proposals were met by pessimism from both allied leaders in Europe and republicans at home. Upon suitable president Wilson chosen Josephus Daniels as secretary of the navy. Wilson sustained the under wood simmons tariff which lowered the average tariff. President Wilson's response to the sinking of the Lusitania was a series of notes demanding that Germany stop such actions and pay reparations. When president Wilson spoke of the heart of the league he refers to article X, which would pledge members to consult on military and economic sanctions against aggressors.
