The Revenue Principle Guides Accountants in Which of the Following

question 12

Multiple Choice

The revenue principle guides accountants in which of the following ways?

• A) Ensures that information is reported at regular intervals
• B) Determines when to record expenses
• C) Determines when to record revenue
• D) Dictates that expenses be deducted from revenues

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Definitions:

Executive Act

Actions taken by an executive branch of government, including decisions, policies, rules, or laws implemented by executive authority.

Legislative Act

A law or statute enacted by a legislative body.

Foreign Sales Representative

An agent who distributes, represents, or sells goods on behalf of a foreign seller, usually in return for the payment of a commission.

Distributor

A merchant who purchases goods from a seller for resale in a foreign market.