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stealth61 [152]
3 years ago
12

Intentionally reporting product sales in the financial statements for the period prior to when they actually occurred is a viola

tion of which generally accepted accounting principle?a. Periodicity
b. Matching
c. Historical cost
d. Revenue recognition
Business
1 answer:
SSSSS [86.1K]3 years ago
6 0

Answer:

d. Revenue recognition

Explanation:

The principle of revenue recognition occurs when the revenue is recognized or earned whether cash is obtained or not and it also meets the accounting accrual basis. Realizable here implies that the customer receives the product but the payment was made afterward.

Since the given scenario reflects the violation of the revenue recognition principle.

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The following differences enter into the reconciliation of financial income and taxable income of Abbott Company for the year en
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Q 2.29: Val-Tek has current assets of $1,700,000 and current liabilities of $900,000. If they pay $100,000 owed to a creditor, w
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3 years ago
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All else the same, if a bank's liabilities are more sensitive to interest rate fluctuations than are its assets, then ________ i
Bad White [126]

Answer:

A) an increase; reduce

Explanation:

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