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Knowledge Check 01Identify the correct principle for each of the following activities using the drop-down list.PrincipleActivitiesA company records the expenses incurred to generate the revenue
Knowledge Check 01Identify the correct principle for each of the following activities using the drop-down list.PrincipleActivitiesA company records the expenses incurred to generate the revenue reportedRevenue is recognized when goods are provided to the customer at the amount expected to be receivedA company reports the details behind financial statements that would impact user's decisionsAccounting information is based on actual cost.
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