When Revenue Is Earned from the Provision of Services, All

question 59

Multiple Choice

When revenue is earned from the provision of services, all of the following are necessary for revenue recognition EXCEPT

• A) economic benefits from the transaction will flow to the seller.
• B) the amount of revenue can be reliably measured.
• C) the costs incurred to complete the transaction can be reliably measured.
• D) the seller has no continuing involvement.