Which Two of the Following Are True of Bill and Hold

question 121

Multiple Choice

Which two of the following are true of bill and hold transactions?

• A)A customer is billed for goods, but goods are not shipped.
• B)The customer must have a sound economic reason for purchasing the goods and asking the seller to continue to hold the goods.
• C)The transaction must be initiated by the seller.
• D)Accounting principles have very broad criteria for when revenue can be recognized for a bill and hold transaction.

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