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Lottalead

10/23/19 4:55 PM

#58770 RE: trader guy #58768

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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Lottalead

10/23/19 6:05 PM

#58776 RE: trader guy #58768

Did you concede this point as well or still maintain that sales are revenue? ??