revenues and expenses

Under the accrual basis accounting, revenues and expenses are recognized by the following principles:

Revenue recognition: Revenue is recognized when both of the following conditions are met: Revenue is earned and Revenue is realized or realizable.

Expense recognition: Expense is recognized in the period in which related revenue is recognized (this is also known as the Matching Principle).

Respond to the following in a minimum of 1

post 175 words and 2 post 75 words :

Discuss when the requirements of the revenue recognition principle are usually met. Give an example.

Discuss when the requirements of the expense recognition principle are usually met. Give an example