When a business records revenue when it has been earned,it is addressing the measurement issue of
A) recognition.
B) evaluation.
C) classification.
D) valuation.

Question

Quizplus · Accepted Answer

Revenue recognition refers to the process of identifying and acknowledging revenue on a company's financial statements when it is earned or when goods are delivered or services rendered. It is an essential part of the measurement process for businesses because it provides information on the company's performance and financial health.

When a Business Records Revenue When It Has Been Earned,it