6. On an accrual basis under generally accepted accounting principles, revenue is recognized using the realization principle. Under this principle, revenues are usually recognized a. when cash is...

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Extracted text: 6. On an accrual basis under generally accepted accounting principles, revenue is recognized using the realization principle. Under this principle, revenues are usually recognized a. when cash is received. b. when the earnings process is complete. c. at the time a customer is billed. d. at the time a valid contract exists between seller and buyer.