Which accounting principle states that a company should "record revenues when they are earned"?

Name: Which accounting principle states that a company should "record revenues when they are earned"?
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

The revenue recognition principle states that a company should record revenues when they are earned, regardless of when the cash is received. This principle helps to ensure that a company's financial statements accurately reflect its performance during a given period.

Which Accounting Principle States That a Company Should "Record Revenues