Which of the Following Statements About the Revenue Recognition Criteria

question 12

Multiple Choice

Which of the following statements about the revenue recognition criteria is not correct?

• A)Ownership and control are applicable for the provision of services.
• B)Revenue recognition criteria are the same for both sale of goods and provision of services.
• C)Stage of completion should be reliably estimable in order to use the percentage of completion method.
• D)Percentage of completion is an acceptable method of revenue recognition.

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