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Recognition Criteria

ByHomework Help Classof1

The recognition of revenues when they have been earned and expenses when they have been incurred is referred to as accrual accounting. The use of accrual accounting results in recording receivables and liabilities, with no immediate effect on cash. The use of accrual accounting can also result in the recognition of expenses when assets expire or are used up (or consumed) during a period. Many functions must be performed to earn revenue.

Details

Publication Date
May 22, 2013
Language
English
Category
Education & Language
Copyright
All Rights Reserved - Standard Copyright License
Contributors
By (author): Homework Help Classof1

Specifications

Format
PDF

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