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:
Tike zones
Explanation:
Different time zones mess with peoples sleep schedules
That statement is true
During the inflation, the strength of our currency is decreased, which will lead to lower investment that will come to our country.
This will cause an increase of unemployment and increasing price to match the previous currency
Answer: In the Declaration of Independence itself, it believes that all people are equal, men and women, white and black, this contributed for everyone to have equal rights and therefore made a democracy to vote.
Explanation:
Answer:
Using caravans created cultural diffusion between people
Using caravans allowed for easier movement of gold and salt
Using caravans allowed for the spread of Islam through trade
