The Principle That (A) Requires Revenue to Be Recognized at the Time

question 188

Multiple Choice

The principle that (A) requires revenue to be recognized at the time it is earned, (B) allows the inflow of assets associated with revenue to be in a form other than cash,and (C) measures the amount of revenue as the cash plus the cash equivalent value of any noncash assets received from customers in exchange for goods or services is called the:

• A)Going-concern principle
• B)Cost principle
• C)Revenue recognition principle
• D)Objectivity principle
• E)Business entity principle

---

Definitions:

Resource Conservation

The practice of managing the use of natural resources efficiently to prevent depletion and ensure sustainability.

Cartridge Operated

Refers to devices or mechanisms activated by the insertion of a cartridge containing a gas, chemical, or projectile.

Multi-Purpose Dry

A versatile product designed to provide lubrication, cleaning, or protection against moisture, commonly used in various mechanical or electronic applications.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in the air and is absorbed by plants in photosynthesis.