Describe how revenue is recognized as it pertains to the realization principle. (Points : 1) Revenue is recorded on the books at the time of the…

Describe how revenue is recognized as it pertains to the realization principle.(Points : 1) Revenue is recorded on the books at the time of the transaction.Revenue is recorded on the books at the time of the transaction for long-term liability and when cash is received for short-term liability.Revenue is recorded on the books when the cash is receivedRevenue is recorded on the books at the time of the transaction for short-term liability and when cash is received for long term-liability.