The revenue recognition principle dictates that all types of incomes should be recorded or recognize...........

Accountancy (Phase -I & II) Others

Download Solution PDF

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

Cash is received

At the end of accounting period

When they are earned

When interest is paid

छोटे Courses बड़े Results

Master Others

Prepare through Micro-courses

Try Now

Explanation:

The revenue recognition principle dictates that all types of incomes should be recorded or recognized when they are earned. The revenue recognition principle, a combination of accrual accounting and the matching principle, stipulates that revenues are recognized when realized and earned, not necessarily when received.