Why is revenue usually recognized at the time of sale, Accounting Basics

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Why is revenue usually recognized at the time of sale

Response to the following questions:

1. Discuss the relationship between historical cost and reliability.

2. What is recognition? What is realization? What two factors provide guidance for revenue recognition? Why is revenue usually recognized at the time of sale?

3. What is accrual accounting and how does it relate to the matching principle?

If possible, please give examples to better understand your response.

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Accounting Basics: Why is revenue usually recognized at the time of sale

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Accounting Basics: Why is revenue usually recognized at the time of sale

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