Final answer:
The principle that calls for revenue to be recognized when goods are sold or services are provided is called Revenue realization.
Step-by-step explanation:
The principle that states revenue should be recognized at the time goods are sold or services rendered is known as d) Revenue realization. Revenue in the context of a company is the income generated from normal business operations, such as the sale of goods or services. It's crucial for the financial health of businesses to record revenue accurately to reflect actual earnings during a specific period. This accounting principle ensures that the revenue is recorded when it is earned, regardless of when the cash is received. This is part of the accrual basis of accounting, which matches revenues to the time periods in which they are earned and matches expenses to the time periods in which they are incurred.