Question: Revenue should only be recognized when there is a reasonable certainty that it will be realized. Which concept does this refer to? A. Materiality B.

Revenue should only be recognized when there is a reasonable certainty that it will be realized. Which concept does this refer to?

A. Materiality B. Consistency C. Conservatism D. Matching

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Revenue should only be recognized when there is a reasonable certainty that it will be realized. Which concept does this refer to? A. Conservatism B. Matching C. Consistency D. Materiality

Q:

Revenue should only be recognized when there is a reasonable certainty that it will be realized. Which concept does this refer to? A. Consistency B. Conservatism C. Matching D. Materiality

Q:

Revenue should only be recognized when there is a reasonable certainty that it will be realized. Which concept does this refer to? A. Conservatism B. Matching O C. Consistency O D. Materiality

Q:

Revenue should only be recognized when there is a reasonable certainty that it will be realized. Which concept does this refer to? A. Consistency B. Materiality C. Matching D. Conservatism

Q:

Revenue should only be recognized when there is a reasonable certainty that it will be realized. Which concept does this refer to? A. Materiality B. Conservatism C. Matching D. Consistency "The...

Q:

In which financial statement will changes to the amounts owed by debtors be reported? A. Statement of Comprehensive Income B. Statement of Financial Position C. Statement of Cash Flows D. Statement...

Q:

Accounting and Its Environment | 51 NAME: SCORE: SECTION: PROFESSOR: Fill in the Blanks 1. Accounting is a process of recording, analyzing, and reporting of financial information to the stakeholders...

Q:

i i Select the matching Description for: Select the matching Description for: Assumes that a business will continue to operate unless it is known Expenses are recorded when benefit is used up to...

Q:

first picture options: second picture options: Certain underlying considerations have had an impact on the development of generally accepted accounting principles. Following is a list of these...

Q:

Help me please, If you were to ask this what will be your answer? Kindly answer this with detailed and clear explanation. Thank you. Copy the question and then the answer 6. When different competent...

Q:

Why might the revenue and cost figures shown on a standard income statement not be representative of the actual cash inflows and outflows that occurred during a period?

Q:

A: Bad News Letter: Problem with service Scenario: You own Keep it Green, a landscaping company that prides itself on environmentally sustainable practices. You won the contract to do the original...

Q:

4 ) IZPIZI just paid an annual dividend of $ 1 2 . 1 0 per share. This dividend is expected to remain the same indefinitely. If the discount rate is 1 3 percent, what is the value of IZPIZI today? 5...

Q:

P-1) (100 Pts.) A chemical manufacturing company (CMC) has a contract for the procurement of the neccssaly chemicals from four suppliers. The chemicals purchased from Supplier A are priced at $20...

Q:

6. On June 12 every year, some U.S. Americans celebrate Loving Day to commemorate: a. Your legal right to love someone of another race b. Your legal right to love someone of the same sex c. Your...

Q:

4. Which of the following is not the name of a Native American tribe? a. Seminole b. Apache c. Arapaho d. Illini

Q:

8. Sometimes viewed as a Scandinavian tortilla, these potato flatcakes are often sold in areas with high Scandinavian American populations: a. Lefse b. Lutefisk c. Aquavit d. Fiskepudding