Accounting · Accounting Principles
Under the accrual concept of accounting, revenue/income is recognized when it is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Recorded in the cash book
- 2Earned, regardless of when cash is received✓
- 3Invoiced to the customer
- 4Received in cash
Correct answer
Earned, regardless of when cash is received
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