According to the Revenue Principle,a Company Should Not Record the Revenue

question 56

True/False

According to the Revenue Principle,a company should not record the revenue from a transaction until it is actually received in cash.
BT: Comprehension

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Definitions:

Existential Instantiation

A logical principle that derives the existence of a particular instance of a predicate within a domain of discourse from a general statement.

Universal Instantiation

A logical rule stating that if something is true for everything in a certain set, then it is true for any specific thing in that set.

Universal Instantiation

A logical rule of inference that allows the derivation of a particular instance from a general statement, often used in formal proofs.

Universal Generalization

A logical rule that states if something is true for all members of a class, it is true in general.