1)Palm Beach Hotel recognizes room rental revenue on the date that a reservation is received....
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Accounting
1)Palm Beach Hotel recognizes room rental revenue on the date that a reservation is received. For the winter season, many guests make reservations as much as a year in advance. For each of the situations described below, indicate the underlying accounting principle that is being violated. Choose from the following principles: Realization Matching None Cost Materiality Objectivity 2) A small commuter airline recognizes no depreciation expense on its aircraft because the planes are maintained in "as good as new" condition. Objectivity Realization Cost None Matching Materiality
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