The revenue recognition principle is the basis for recording revenues-both when to record revenue and the amount of revenue to record.

Name: The revenue recognition principle is the basis for recording revenues-both when to record revenue and the amount of revenue to record.
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Quizplus · Accepted Answer

This statement is true. The revenue recognition principle is a core principle of accounting and dictates when revenue should be recognized and how much should be recorded.

The Revenue Recognition Principle Is the Basis for Recording Revenues-Both