Identify the accounting concept or principle that gives the most direction on how to account for each

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Identify the accounting concept or principle that gives the most direction on how to account for each of the following:

a. A customer states her intention to switch travel agencies. Should the new travel agency record revenue based on this intention?

b. The owner of a business desires monthly financial statements to measure the progress of the entity on an ongoing basis.

c. Expenses of the period total $6100. This amount should be subtracted from revnue to compute the periods income.

d. Expenses of $2800 must be acrued at the end of the period to measure income properly.

Posted Date: Dec 16, 2021 04:25 PM

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Identify the accounting concept or principle that gives the most direction on how to account for each

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