The accrual principle requires that revenue not be recognized until payment from a sale is received.

Name: The accrual principle requires that revenue not be recognized until payment from a sale is received.
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

The accrual principle states that revenue should be recognized when earned, regardless of when payment is received. Payment may be received at a later date, but the revenue should still be recorded when it was earned.

The Accrual Principle Requires That Revenue Not Be Recognized Until