The generally accepted accounting principle which dictates that revenue be recognized in the accounting period in which the perf

Question

Colt1911 [192]

2 years ago

10

The generally accepted accounting principle which dictates that revenue be recognized in the accounting period in which the perf

ormance obligation is satisfied is the:.

Business

1 answer:

ipn [44] · Answer 1 · 2023-04-23T17:23:40+03:00

Answer:

Revenue recognition principle.

Explanation:

The revenue recognition principle states that revenue is recognized in the accounting period in which the performance obligation is satisfied. The cash-basis of accounting is in accordance with generally accepted accounting principles.