Question

Revenue is recorded when services have been performed or products have been delivered to customers. The accounting principle supporting this reporting is

Answer 1

The revenue recognition principle

Step-by-step explanation:

The revenue recognition principle states that revenue should be recorded when services have been performed or products have been delivered to customers and not when cash is received for the service rendered

For example, if a supplier delivers 10,000 worth of goods to consumers in November and is paid for the goods in December. Revenue should be recognised in November and not December.