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The revenue recognition principle: A) Prescribes that accounting information is based on actual cost. B) Provides guidance on when a company must recognize revenue. C)
The revenue recognition principle: A) Prescribes that accounting information is based on actual cost. B) Provides guidance on when a company must recognize revenue. C) Prescribes that a company report the details behind financial statements tha would impact users' decisions. D) Prescribes that a company record the expenses it incurred to generate the revenue reported. E) Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold
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