The principle that states revenue should be recognized at the time goods are sold or services rendered is called:

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The principle that revenue should be recognized at the time goods are sold or services rendered is called revenue recognition. Adequate disclosure refers to providing sufficient information in financial statements, conservatism requires caution when recording uncertain or potential losses, and matching requires expenses to be recognized in the same period as the related revenue. However, none of these principles specifically address the timing of revenue recognition.

The Principle That States Revenue Should Be Recognized at the Time