The principle which says that revenue is recognized when goods or services are provided to customers at an amount expected to be received from the customer is known as the.

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20-01-2022
Business

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The principle which says that revenue is recognized when goods or services are provided to customers at an amount expected to be received from the customer is known as the.

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Martebi Martebi · Answer 1 · 2022-01-28T10:56:52+01:00

Business are known to have laws. The principle which says that revenue is recognized when goods or services is known as the revenue recognition principle.

What is the revenue recognition principle?

This recognition principle is known to be a key aspect of accrual accounting.

It does need or requires that revenues are known or seen on the income statement in the time when they were realized and earned and not because of when cash is received.

Learn more about The revenue recognition principle from

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