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!1. Recognizing revenue when it is earned, and recognizing expenses when the related goods...

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Accounting

!1. Recognizing revenue when it is earned, and recognizing expenses when the
related goods or services are received or the related assets are used, is called:
A. The Materiality Concept
B. The Liquidity Concept
C. Accrual Accounting
D. None of the above, revenues and expenses must always be recognized at the same time
the related cash is received or disbursed.
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