The Revenue Recognition Principle Requires Companies to Record Revenue When

question 33

True/False

The revenue recognition principle requires companies to record revenue when (or as)the entity satisfies each performance obligation.

---

Definitions:

Main Pressure Tap

A point within a fluid system designed for pressure monitoring or for connecting measurement devices.

ECPC Valve

Electronically Controlled Pressure Control valve, used in automatic transmissions to control the hydraulic pressure based on electronic signals.

Caterpillar CX

A series of transmission products manufactured by Caterpillar, specifically designed for heavy-duty applications.