The Revenue Recognition Concept

question 168

Multiple Choice

The revenue recognition concept

• A) is not in conflict with the cash method of accounting
• B) determines when revenue is credited to a revenue account
• C) states that revenue is not recorded until the cash is received
• D) controls all revenue reporting for the cash basis of accounting

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Definitions:

Occupational Requirement

A qualification or condition that is necessary for the performance of a job.

Dismissed

A court's decision to end a case without a trial or judgment, often due to lack of evidence or standing.

Notice

A formal communication or announcement, often required in legal contexts to inform parties of certain actions or decisions.

Racial Imbalance

A situation in which there is a disproportionate representation of racial or ethnic groups in a particular context, often highlighting issues of inequality or segregation.