The generally accepted accounting principle that indicates that revenues are only recognised when they are earned is the __________.

Question

Quizplus · Accepted Answer

The generally accepted accounting principle that indicates that revenues are only recognised when they are earned is the realisation principle. This principle states that revenue can only be recognised when the earning process is complete, and there is reasonable certainty about the collection of payment.

The Generally Accepted Accounting Principle That Indicates That Revenues Are