The Accounting Principle That Requires Revenue to Be Recorded When

question 54

Multiple Choice

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

• A) Matching principle.
• B) Revenue recognition principle.
• C) Time period assumption.
• D) Accrual reporting principle.
• E) Going-concern assumption.

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Definitions:

Conditional Acceptance

An agreement or acceptance that is subject to specific conditions or requirements being met.

Genuineness

The quality of being authentic and sincere in one’s feelings, thoughts, and actions.

Empathic Understanding

The capacity to accurately comprehend and share another person’s emotional state or context, while recognizing its distinctiveness from one's own feelings.

Behavior Therapy

A therapeutic approach that focuses on changing negative behaviors through various techniques, including reinforcement and conditioning.