The recognition point for revenues,expenses,gains and losses is the same for tax and financial reporting purposes.

Name: The recognition point for revenues,expenses,gains and losses is the same for tax and financial reporting purposes.
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Quizplus · Accepted Answer

The recognition point for revenues, expenses, gains, and losses is not always the same for tax and financial reporting purposes. There are differences in tax laws and accounting principles that can affect the recognition and timing of these items.

The Recognition Point for Revenues,expenses,gains and Losses Is the Same