What is the Realization Concept in Accounting?
This means if a business receives an advance, and they have not yet delivered or transferred the goods, the revenue should not be recognized. Typically, this will happen when the business has rendered the services or https://turbo-tax.org/millions-of-americans-might-not-get-stimulus/ transferred the goods to the customer. The revenue has to be recognized when it is realized, not when […]
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