If a company receives an order for goods that amount of the order as revenue because of the _______ concept
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Answer:
Revenue Recognition
Explanation:
If a firm receives an order for goods, it would not be included in the sales figure owing to Revenue recognition concepts.
According, to this concept revenue can only be recognized when the underlying goods or services associated with the revenue has been delivered or rendered, respectively. Hence, in the given case sale will be recorded in the books, when goods are delivered
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