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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Maria is in at the exploration stage of the career development cycle.
<u>Explanation:
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The exploration career stage is the first stage before employment where the individual just graduated college and ready to join the work environment. The individual also narrows down their preferences influenced by parents, friends and teachers to get a right career path.
There is also a tendency to have expectations that may be unrealistic, creating fantasies about the place of employment, work or work environment before being employed. For most people, the exploration stage is at mid-twenties while for some it might come late or earlier.
Answer:
A.
Explanation:
Its A because the law was to stop slavery
Elitist still believe that few individuals still control enormous resources.
