What is a characteristic of the income statement approach to revenue recognition?

Name: What is a characteristic of the income statement approach to revenue recognition?
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The income statement approach to revenue recognition is based on the concept of income realization, which recognizes revenue when it is earned, regardless of when the payment is received. It does not depend on changes in asset balances or movements in liabilities, and it is not necessarily tied to the cash-basis of accounting.

What Is a Characteristic of the Income Statement Approach to Revenue