The revenue recognition principle states that all types of incomes should be recorded or recognized when: Cash is received At the end of the accounting period When they are earned When the interest is paid

The revenue recognition principle states that all types of incomes should be recorded or recognized when: Cash is received At the end of the accounting period When they are earned When the interest is paid

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries

Section21.1: Accruals

Problem 2AYU

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Question

The revenue recognition principle states that all types of incomes should be recorded or recognized when:

Cash is received
At the end of the accounting period
When they are earned
When the interest is paid

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