Revenue Is Recognized in Most Businesses

question 178

Multiple Choice

Revenue is recognized in most businesses

• A) when the customer's order is received.
• B) only if the transaction creates an account receivable
• C) only if paid in cash
• D) upon completion of the sale or when services have been performed and the business obtains the right to collect the sales price
• E) when cash from a sale is received

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Definitions:

Navigation Pane

A user interface element that enables users to move through different views or sections of software or a website.

Database Password

A security feature used to restrict access to a database by requiring users to enter a secret key or password.

Exclusive Mode

In computing, it refers to a mode where a resource is used or accessed by only one user or process at a time.

Navigation Pane

A feature in various software applications that allows users to easily browse and access different sections or features within the application.