In Order for Revenue to Be Recognized

question 101

Multiple Choice

In order for revenue to be recognized,

• A)goods or services must be delivered to the customer only.
• B)cash or an asset virtually assured of being converted into cash must be received from the customer only.
• C)goods or services must be delivered to the customer and cash or an asset virtually assured of being converted into cash must be received.
• D)cash must be received from the customer only.
• E)goods or services must be delivered to the customer and cash must be received from the customer.

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Definitions:

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