accounting help?

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q#11

The revenue recognition concept

is in not in conflict with the cash method of accounting ?
determines when revenue is credited to a revenue account ?
states that revenue is not recorded until the cash is received ?
controls all revenue reporting for the cash basis of accounting ?

which one would you say?

2006-10-29 01:36:40 · 2 answers · asked by michaeljustussvcc 1 in Business & Finance ➔ Other - Business & Finance

2 answers

determines when revenue is credited to a revenue account ?
Revenues are recognized when earned

2006-10-29 17:31:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋

determines when revenue is credited to a revenue account.

Revenue is recognized only when it is earned, can be measured, and collectibility is reasonably assured.

2006-10-30 07:39:09 · answer #2 · answered by Philip S 2 · 0⤊ 0⤋