Examlex
In constructivist approach to learning,which of the following would be found in the classroom?
Revenue Recognition
The accounting principle that dictates the specific conditions under which income becomes realized as revenue.
Adjusting Entries
Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
Prepayments
Payments made in advance for goods or services, which are recorded as assets on the balance sheet until the corresponding goods or services are received.
Unearned Revenue
Money received by an entity for a service or product yet to be delivered or performed.
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