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  3. the revenue recognition principle states that: (

The revenue recognition principle states that: (a) revenue should be recognized in...

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Accounting

  1. The revenue recognition principle states that:

(a) revenue should be recognized in the accounting period in which a performance obligation is satisfied.

(b) expenses should be matched with revenues.

(c) the economic life of a business can be divided into artificial time periods.

(d) the fiscal year should correspond with the calendar year.

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