Answered: The revenue recognition principle…

The revenue recognition principle requires retailers to recognise sales revenue when it is earned which is not necessarily at the same time that the cash is received. (T/F)

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter5: Income Statement: Reporting The Results Of Operating Activities

Section: Chapter Questions

Problem 6Q

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The revenue recognition principle requires retailers to recognise sales revenue when it is earned which is not necessarily at the same time that the cash is received. (T/F)

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