Answer :
Revenues often shouldn't be recorded in the accounting records until they are paid for in cash. This statement is false.
How do you define revenues?
- The whole amount of money made by selling the customers' goods or services is referred to as revenue.
- The top of a company's income statement displays revenue.
- Incomes are habitually substituted with the word wage. Deals, benefit incomes, earned expenses, intrigued income, and intrigued pay are many illustrations of income accounts.
- Revenue accounts typically contain credit balances because they are credited when services are rendered and billed.
- Total earnings from a company's fundamental operations, such as sales of goods or services, rent from real estate, periodic payments, interest from borrowings, etc., are referred to as revenue.
Revenues often shouldn't be recorded in the accounting records until they are paid for in cash. This statement is false.
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