natcooper5320 natcooper5320

Today at 12:22 AM
Business

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The revenue recognition principle Select one: a. is not in conflict with the cash method of accounting b. determines when revenue is credited to a revenue account c. states that revenue is not recorded until the cash is received d. controls all revenue reporting for the cash basis of accounting

Answer :

sandlee09 sandlee09

Today at 12:27 AM

Answer:

b.

Explanation:

The revenue recognition principle determines when revenue is credited to a revenue account. Basically it states that revenue from a business or organization should be recognized and shown in the income statements as soon as it is earned, either through the transaction of a product or service. Instead of waiting for the money to be received or collected.

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