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:

Classified Department

A section within an organization or publication dealing with classified advertisements or information.

Telephone Calls

Communication attempts made using the telephone system.

Probability

The assessment of the probability that a specific event will happen.

Bertrand

Refers likely to Claude Bertrand, a figure associated with the development of techniques or theories in a specific context; without more context, it's hard to provide a detailed definition.