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What are the three retail editions of Windows 7?
Expense Recognition
An accounting principle that dictates the conditions under which expenses are recognized and reported in financial statements.
Revenue Recognition
The principle that dictates the specific conditions under which revenue is recognized and recorded in the accounts.
Realization of Revenue
The realization of revenue occurs when a company has earned its revenue—typically through the delivery of goods or services—and it can be recognized on the financial statements.
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