ACC 290 Week 2 participation Revenue and Expense Recognition Principle

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ACC 290 Week 2 participation Revenue and Expense Recognition Principle
ACC 290 Week 2 participation Revenue and Expense Recognition Principle
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ACC 290 Week 2 participation Revenue and Expense Recognition Principle

Hi Class,

What is the revenue recognition principle? What is the expense recognition principle? In your opinion, why are these important to financial reporting?