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In principle, there’s a (when an organization can record gross sales income), the matching precept Matching PrincipleThe matching precept is an accounting concept that dictates that companies report bills similtaneously the revenues they’re associated (matching expenses to revenues), and the accrual precept Accrual AccountingIn financial accounting, accruals seek advice from the recording of revenues that a company has earned but has yet to obtain fee for, and the.
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