The revenue recognition principle states that: (a) revenue should be recognized in the accounting period in which
Question:
The revenue recognition principle states that:
(a) revenue should be recognized in the accounting
period in which a performance obligation is
satisfied.
(b) expenses should be matched with revenues.
(c) the economic life of a business can be divided into
artificial time periods.
(d) the fiscal year should correspond with the calendar
year.
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Related Book For 
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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