ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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REVENUE PRINCIPLE Definition
REVENUE PRINCIPLE is where revenues are recorded when they are earned regardless of timing of cash receipts.
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REVOLVING CREDIT is a line of credit extended to customers who may use it as often as desired up to a certain dollar limit. Items purchased using this line of credit may be paid in full upon receipt of a monthly statement, or they may be paid for in several installments, for which an interest charge is added. Also known as REVOLVING LINE OF CREDIT.
ATTEST is to authenticate, affirm to be true, genuine, or correct, as in an official capacity.