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

Question

Quizplus · Accepted Answer

The revenue recognition principle states that a company should record revenues when they are earned, regardless of when payment is received. This means that revenue should be recognized in the period in which the goods or services are delivered to the customer, even if payment will not be received until a later date.

Which Accounting Principle States That a Company Should "Record Revenues