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Items Item #1 Item #2 Item #3 Item #4 Principle A company records the expenses incurred to generate the revenue reported. Revenue is recognized
Items Item #1 Item #2 Item #3 Item #4 Principle A company records the expenses incurred to generate the revenue reported. Revenue is recognized when goods are provided to the customer at the amount expected to be received. A company reports the details behind financial statements that would impact user's decisions Accounting information is based on actual cost. Activities Measurement principle Expense recognition principle Expense recognition principle Revenue recognition principle
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