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I want to make sure I answered to this question correct please help. Thankyou Putting together...

I want to make sure I answered to this question correct please help. Thankyou

Putting together the "revenue recognition principle" and the "expense recognition principle" what is that principle/rule called? Expense fallow the revenue

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Answer #1
  1. The Principle/Rule is called 'Accrual Concept', which says revenues are to be recognized when they are earned (not when they are received) and expenses are to be recognized whey they are incurred (not when they are paid).
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