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Is CEO duality good or bad? Summarize the two schools of thought that represent alternate positions on this issue.
Revenue Recognition Principle
An accounting principle that outlines the specific conditions under which revenue is recognized and dictates that revenue should be recognized in the accounting period in which it is earned.
Accrued Revenue
Income earned but not yet received, typically recorded with an adjusting journal entry in the accounting records.
Recorded
The act of documenting financial transactions in accounting records or journals.
Accrued Expenses
Expenses that have been incurred but not yet paid for or recorded through the issuance of cash or other payments.
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