Answered

Get the information you need quickly and easily with IDNLearn.com. Our platform is designed to provide accurate and comprehensive answers to any questions you may have.

Revenue is recorded when services have been performed or products have been delivered to customers. The accounting principle supporting this reporting is

Sagot :

Answer:

The revenue recognition principle

Explanation:

The revenue recognition principle states that revenue should be recorded when services have been performed or products have been delivered to customers and  not when cash is received for the service rendered

For example, if a supplier delivers 10,000 worth of goods to consumers in November and is paid for the goods in December. Revenue should be recognised in November and not December.

Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. IDNLearn.com has the solutions to your questions. Thanks for stopping by, and see you next time for more reliable information.