How should revenues be recognized in interim periods?
A) In the same way as they are recognized on an annual basis.
B) On the cash basis.
C) On an annualized basis.
D) On a seasonal basis.
E) There are no revenues recognized in interim periods.

Question

Quizplus · Accepted Answer

Revenues should be recognized in interim periods in the same way as they are recognized on an annual basis, following the accrual accounting principle.

How Should Revenues Be Recognized in Interim Periods