Which of the Following Is Not an Accurate Representation Concerning

question 128

Multiple Choice

Which of the following is not an accurate representation concerning revenue recognition?

• A) Revenue from selling products is recognized at the date of sale, usually interpreted to mean the date of delivery to customers.
• B) Revenue from services rendered is recognized when cash is received or when services have been performed.
• C) Revenue from permitting others to use enterprise assets is recognized as time passes or as the assets are used.
• D) Revenue from disposing of assets other than products is recognized at the date of sale.

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Definitions:

Small Businesses

Enterprises with limited employees and revenue, often privately owned and operated, playing a vital role in the economy.

Chain Organizations

Entities or businesses that operate multiple outlets under the same brand or ownership, often in different locations.

Supply Chain

The interconnected network of entities involved in the production, handling, and distribution of goods and services from raw materials to end consumers.

Logistics Manager

A professional responsible for overseeing the supply chain operations, ensuring efficient delivery of goods.