The Accounting Principle That Requires Revenue to Be Reported When

question 136

Multiple Choice

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

• A)Matching principle.
• B)Revenue recognition principle.
• C)Going concern principle.
• D)Cost principle.
• E)Timeliness principle.

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Definitions:

Inventory Turnover

A metric indicating the frequency at which a company's stock is sold and replenished within a given timeframe.

Sales In Inventory

The quantity of goods that are available for sale in a company's inventory.

Average Daily Cost

The average cost incurred by a business or an operation calculated on a daily basis.

Sales In Inventory

This term seems incorrect or incomplete. The correct term is likely "Inventory," which refers to the goods and materials a business holds for the purpose of resale.