The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

REVENUE RECOGNITION PRINCIPLE Definition & Legal Meaning

Definition & Citations:

Rule in accounting where (1) generation of revenue is complete, (2) an exchange has occured.

Disclaimer

This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.