The revenue recognition principle dictates that all types of incomes should be recorded or recognized when

The revenue recognition principle dictates that all types of incomes should be recorded or recognized when Correct Answer When they are earned

The revenue recognition principle dictates that all types of incomes should be recorded or recognized when they are earned. The revenue recognition principle, a combination of accrual accounting and the matching principle, stipulates that revenues are recognized when realized and earned, not necessarily when received.
Bissoy MCQ

Related Questions

In 2007, the arithmetic mean of the annual incomes of Rahim and Karim was Taka 3800 . The arithmetic mean of the annual incomes of Karim and Ripon was Ripon and Rahim was TaKa5800. What is the arithmetic mean of the incomes of the three ?
Two outlets of a motor manufacturing company reported that revenue from outlet x in 2013 was down 11 percent from 2012. and revenue from outlet Y in 2013 were up 7 percent from 2012. If total revenue from outlet X & Y in 2013 was up 1 percent from 2012, what is the ratio of revenue from outlet X in 2012 revenue from outlet Y in 2012?
Due to the recession, a show room reported that revenue from luxury car sales were down by 11% and revenue from economy car sales were up by 7% . If the total revenue were up by 1% then what is the ratio of revenue from luxury car sales to revenue from economy car sales ?
A company generated revenue of Tk. 125,000 in 2012 which was 12.5% of its gross revenue. In 2013, the gross revenue increased by Tk. 250,000. What is the percentage increase in the revenue in 2013?
A company generated revenue of Tk 125,000 in 2012 which was 12.5% o its gross revenue. In 2013, the gross revenue increased by Tk. 250,000. What is the percentage increase in the revenue in 2013?
The____ principle dictates that efforts (expenses) be matched with accomplishments (revenues)
In 1990, Hotel Seagull earned TK. 5 million in tourist revenue. By 2000, tourist revenue doubled and in 2010, it reached the sum TK. 20 million. Each of the following , if true , may explain the trend in tourist revenue except :
Fill in the blanks : Although Rajib is ---for public office, he is not willing to accept the dictates of bosses.
Which accounting concept dictates the inclusion of 'provision for doubtful debts' in the financial statements?
Under cash basis of accounting, revenue is recognized when