Is it necessary for an asset to be acquired when revenue is recognized? Explain your answer.

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Using Financial Accounting Information The Alternative to Debits and Credits

ISBN: 978-1133161646

7th Edition

Authors: Gary A. Porter, Curtis L. Norton

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Question Posted: Jan 12, 2012 02:41 AM

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Is it necessary for an asset to be acquired when revenue is recognized? Explain your answer.

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No the recognition of revenue is not always the result of the a...View the full answer

Using Financial Accounting Information The Alternative to Debits and Credits

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