Question: i need help with this question, answer choices are expense recognition principle, losses, operating cycle, revenues, time period assumption or none of these are correct.
Definition A. Record revenues when earned and measurable (when the company transfers promised goods or services to customers, it should record the amount it expects to be entitled to receive). B. The time it takes to purchase goods or services from suppliers, sell goods or services to customers, and collect cash from customers. C. Record expenses when incurred in earning revenue. D. The costs of operating the business that are incurred to generate revenues during the period. E. Report the long life of a company in shorter time periods. F. The amounts eamed and recorded from a company's day-to-day business activities, mostly when a company sells products or provides services to customers or clients. G. Result primarily from the disposal of assets for less than their cost minus the amount of cost depreciated in the past. Term Revenues Operating cycle None of these are correct
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
