The Accounting Principle That Requires Revenue to Be Recorded When

question 54

Multiple Choice

The accounting principle that requires revenue to be recorded when earned is the:

• A) Matching principle.
• B) Revenue recognition principle.
• C) Time period assumption.
• D) Accrual reporting principle.
• E) Going-concern assumption.

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Definitions:

General Ability

General ability refers to the overall cognitive capacity of an individual, including elements such as memory, reasoning, problem-solving, and intelligence.

Intelligence

The capacity for absorbing lessons from past encounters, addressing difficulties, and leveraging insight to adapt to fresh scenarios.

Charles Spearman

A psychologist known for his work in statistics and intelligence, including the theory of general intelligence (g factor).

General Intelligence

The theory suggesting the existence of a single, underlying intellectual capacity that influences performance across various cognitive tasks.