Kizspy | Question: 3
(Choose 1 answer)
On December, 30, 2012, E&Y sign a $90,000 contract to provide auditing services to its client in 2013. E&Y has a December 31 year end. Which accounting principle or assumption requires E&Y to record the auditing services revenue from this client in 2013, not 2012?
A. Business entity assumption
B. Time period assumption
C. Matching principle
D. Revenue recognition principle
E. Cost principle
