The Principle That States Revenue Should Be Recognized at the Time

question 75

Multiple Choice

The principle that states revenue should be recognized at the time goods are sold or services rendered is called:

• A)Adequate disclosure.
• B)Conservatism.
• C)Matching.
• D)Revenue realization.

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Definitions:

Diagnosed

The identification of the nature of an illness or other problem by examination of the symptoms.

AIDS

Acquired Immune Deficiency Syndrome, a life-threatening condition caused by the human immunodeficiency virus (HIV), leading to a severe weakening of the immune system.

Criteria

Standards, rules, or tests by which something can be judged or decided, used to make evaluations or decisions.

HIV Spread

The transmission of the Human Immunodeficiency Virus, which can occur through unprotected sex, sharing needles, or from mother to child during birth or breastfeeding.