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:
Explanation:
The Roman Empire, at its height (c. 117 CE), was the most extensive political and social structure in western civilization. By 285 CE the empire had grown too vast to be ruled from the central government at Rome and so was divided by Emperor Diocletian (r. 284-305 CE) into a Western and an Eastern Empire.
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Should be NYC and philladelphia. sorry if im wrong
The given statement is False.
If the federal and state minimum wages are different, then the highest minimum wage is not used.
Explanation:
There are different structure of governments in different countries. In the Federal government system, many decisions are taken by the federal, but there are some decisions in which the states are free to take actions and decisions.
For example, in a matter of setting the minimum wage rate, each state is free to set its own highest minimum wage rate. It doesn't matter what wage rate has been set in the federal, the states can set their own wage rate.
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