As a General Rule, Revenues Should Not Be Recognized in the Accounting

question 235

True/False

As a general rule, revenues should not be recognized in the accounting records until it is received in cash.

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Definitions:

Cooperation

The act of working together towards a common goal or interest.

Developmental Sequence

The ordered progression through which a system, organism, or organizational process matures or evolves.

Failure

The state or condition of not meeting a desirable or intended objective, and may be viewed as the opposite of success.

Any Point

This term is too vague without context and may not represent a specific key term in its current form.