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The revenue recognition concept:?
a. is not in conflict with the cash method of accounting
b. determines when revenue is credited to a revenue account
c. states that revenue is not recorded until the cash is received
d. control all revenue reporting for the cash basis of accounting
1 Answer
- 1 decade agoFavorite Answer
B
Cash method means the transaction is reported when cash is received, but the revenue recognition concept means a transaction is reported as a sale even if no money has been paid. Cash basis does not recognize payable or receivable accounts.
