Concept Description 1. Cash-basis accounting. 2. Fiscal year. 3. Revenue recognition principle. Recognize revenue in the accounting period in which a performance obligation is satisfied 4. Expense recognition principle.
Concept Description 1. Cash-basis accounting. 2. Fiscal year. 3. Revenue recognition principle. Recognize revenue in the accounting period in which a performance obligation is satisfied 4. Expense recognition principle.
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter8: Revenue Recognition, Receivables, And Advances From Customers
Section: Chapter Questions
Problem 53P
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