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      Question

      Which accounting principle requires that revenue is

      recognized when a sale is made or a service is provided?
      A Time period principle Correct Answer Incorrect Answer
      B Accrual basis Correct Answer Incorrect Answer
      C Realization principle Correct Answer Incorrect Answer
      D Matching principle Correct Answer Incorrect Answer

      Solution

      The realization principle requires that revenue is recognized when a sale is made or a service is provided.

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