Ask Question
11 July, 18:00

The concept or principle that states that companies should recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for goods and services is referred to as the:

+2
Answers (1)
  1. 11 July, 21:32
    0
    core revenue recognition principle

    Explanation:

    Evenue recognition us defined as recognising a revenue when the collection of cash from a sale has been made or is reasonably assured. It is recognised in the period when it occurs.

    The matching principle states that expenses are incurred when obligations are incurred, and revenue are recognised when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for goods and services.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The concept or principle that states that companies should recognize revenue when goods or services are transferred to customers for the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers