Psychology homework help
Psychology homework help. Under the accrual basis accounting, revenues and expenses are recognized by the following principles:Revenuerecognition:Revenueis recognized when both of the following conditions are met:Revenue is earnedandRevenue is realized or realizable. Expense recognition: Expense is recognized in the period in which related revenue is recognized (this is also known as theMatching Principle).Respond to the following in a minimum of 175 words:Discuss when the requirements of the revenue recognition principle are usually met. Give an example. Discuss when the requirements of the expense recognition principle are usually met. Give an example.
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