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Mariana Anghel
on Oct 16, 2024

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As a general rule,revenues should not be recognized in the accounting records when earned,but rather when cash is received.

Accounting Records

Documentation and books that keep track of the financial transactions, operations, and condition of a business.

Revenues Recognized

Refers to the income that a company has earned and reported on its financial statements for a specific period, in accordance with accounting principles.

  • Understand the principles underlying revenue recognition and measurement in accounting.
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Chanel CarterOct 17, 2024
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