The Revenue Principle Governs Two Things

question 58

Multiple Choice

The revenue principle governs two things:

• A)to record the amount to be received and in which journal to record this amount.
• B)where to record a revenue and the amount of revenue to record.
• C)when to record revenue and the amount of revenue to record.
• D)when to record a revenue and where to record this revenue.

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Definitions:

Discourages Napping

Refers to practices or policies that deter or reduce the opportunity for taking short sleeps or rest periods during work or activity hours.

Complex System

A system composed of interconnected parts that as a whole exhibit one or more properties (behavior among the parts) that are not obvious from the properties of the individual parts.

Meaning

The significance, definition, or purpose of something; what is intended to be expressed or indicated.

Organizations

Groups or entities that are structured and managed to meet a particular objective or set of objectives.