Answer:
The correct answer is letter "D": Revenue should be recognized in the period goods and services are provided.
Explanation:
Revenue Recognition is an accounting term that describes how and when a firm records revenue in its books of accounting. Revenue recognition follows the Generally Accepted Accounting Principle (GAAP) and using the accrual method of accounting it requests to record revenue when earned, it is when the goods or services are provided regardless of when the money for those products is received.
The revenue recognition principle states that d. Revenue should be recognized in the period goods and services are provided.
The revenue recognition principle states that companies should recognize or record revenues when a service or product is delivered to the customer, Â not when payment is received.
Revenue is not a component of common stock, recognized in the balance sheet, or when cash is received.
Thus, the revenue recognition principle states that d. Revenue should be recognized in the period goods and services are provided.
Learn more about the revenue recognition principle at https://brainly.com/question/24280609
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