Answered: Which principle requires revenue to be…

Which principle requires revenue to be recorded when it is earned, not when received? A. Matching PrincipleB. Cost PrincipleC. Revenue Recognition PrincipleD. Full Disclosure Principle

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 1Q: Describe the revenue recognition principle. Give specifics.

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Question

Which principle requires revenue to be recorded when it is earned, not when received?

A. Matching Principle
B. Cost Principle
C. Revenue Recognition Principle
D. Full Disclosure Principle

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