The Revenue Recognition Principle Dictates That Revenue Be Recognized in the Accounting

question 143

True/False

The revenue recognition principle dictates that revenue be recognized in the accounting period in which cash is received.

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Definitions:

Alderfer

Refers to Clayton Alderfer's ERG theory on human needs and motivation, classifying needs into Existence, Relatedness, and Growth categories.

McClelland

Refers to David McClelland, a psychologist known for his work on motivation, specifically the theory of Needs which includes Achievement, Power, and Affiliation.

Social Level

The standing or rank of an individual or group within the structure of a society, often determined by factors like occupation, income, or education.

Maslow's Hierarchy

A psychological theory proposed by Abraham Maslow that suggests human needs are arranged in a hierarchy, from basic physiological needs to self-actualization.