The concept which establishes the rule for the periodic recognition of revenue as soon as it is capable of objective measurement is

Answer Details

The concept that establishes the rule for the periodic recognition of revenue as soon as it is capable of objective measurement is "realization." This concept guides accountants on when to recognize revenue in financial statements. According to the realization concept, revenue should be recognized when it is earned, and it can be measured objectively. In simpler terms, it means that revenue should be recorded in the financial statements as soon as the seller has completed the delivery of goods or services to the buyer, and the buyer has an obligation to pay for them.