what do mean by revenue recognition concept
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The revenue recognition principle is a cornerstone of accrual accountingtogether with the matching principle. ... According to the principle, revenues are recognized when they are realized or realizable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received.
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The revenue recognition principle is a cornerstone of accrual accounting together with the matching principle. ... According to the principle, revenues are recognizedwhen they are realized or realizable, and areearned (usually when goods are transferred or services rendered), no matter when cash is received.
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