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प्रश्न
Explain the revenue principle.
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उत्तर
The revenue principle states that revenue should be recognised when the goods are delivered by sellers and accepted by buyer, i.e., ownership of, goods changes. Hence the revenue is assumed to be realised when a legal right to receive it arises. Credit sales are treated as revenue on the day sales are made and not when money is received from the buyer.
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संबंधित प्रश्न
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