The Revenue Recognition Principle Dictates That Revenue Should Be Recognized

question 74

Multiple Choice

The revenue recognition principle dictates that revenue should be recognized in the accounting period

• A)before it is earned.
• B)after it is earned.
• C)in which the performance obligation is satisfied.
• D)in which it is collected.

---

Definitions:

School Age

A stage in human development that typically refers to the period when children attend primary and secondary school, generally between the ages of 5 and 18.

Middle Adolescence

A developmental stage typically ranging from ages 14 to 17, characterized by increased independence, identity exploration, and emotional and social development.

Emotionality

The capacity to experience and display emotions.

Increases

A rise or growth in quantity, size, value, or intensity of something.