Under the principles of accrual accounting, revenues are considered earned when a company exchanges a good or service for cash or claims for cash.

Name: Under the principles of accrual accounting, revenues are considered earned when a company exchanges a good or service for cash or claims for cash.
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Question

Quizplus · Accepted Answer

Under the principles of accrual accounting, revenues are considered earned when a company performs a service or delivers a good, regardless of when cash is received.

Under the Principles of Accrual Accounting, Revenues Are Considered Earned