The revenue recognition principle dictates that revenue is recognized in the period in which the cash is received. true or false?

False

Explanation:

The revenue recognition principle dictates that revenue is recognized in the period in which it is earned. For example, assume a landscaping company performs lawn care service for one of its clients on December 28, invoices the client on January 2, and receives payment on February 1. The revenue recognition principle dictates that the company recognize the associated revenue when it was earned on December 28 regardless of when the client was invoiced or payment was received.

answera major piece of legislation affecting the financial industry and containing significant privacy provisions for individuals;