The Accounting Principle That Requires Revenue to Be Recorded When

question 158

Multiple Choice

The accounting principle that requires revenue to be recorded when earned is the:

• A)Expense recognition (matching)principle.
• B)Revenue recognition principle.
• C)Time period assumption.
• D)Accrual reporting principle.
• E)Going-concern assumption.

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Definitions:

Rigorously Scientific

Adhering strictly to empirical standards and methods in research or study to ensure validity, reliability, and accuracy.

Experimentation

The process of conducting tests and analyses under controlled conditions to explore hypotheses and observe outcomes in research.

Personality

The aggregate of qualities or characteristics that distinguish an individual’s personal character.

Correlations

Statistical measures that describe the extent to which two variables change together, indicating the strength and direction of their relationship.