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Post# of 70650
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Lottalead

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Lottalead

Re: trader guy post# 58768

Wednesday, 10/23/2019 4:55:10 PM

Wednesday, October 23, 2019 4:55:10 PM

Post# of 70650
According to GAAP, companies cannot book a revenue until they have first recognized the revenue. A revenue is recognized only when it has been earned. ... Booking revenue before recognizing it violates the revenue recognition principle under GAAP.
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Volume:
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