The revenue recognition principle dictates that revenue be recognized in the accounting period in which cash is received.

Name: The revenue recognition principle dictates that revenue be recognized in the accounting period in which cash is received.
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The revenue recognition principle states that revenue should be recognized when it is earned, regardless of when cash is received. This means that revenue can be recognized even if payment is not received until a later period.

The Revenue Recognition Principle Dictates That Revenue Be Recognized in the Accounting