Under Accrual-Basis Accounting,the Event That Triggers Revenue Recognition for the Sale

question 184

Multiple Choice

Under accrual-basis accounting,the event that triggers revenue recognition for the sale of goods is the:

• A)date a contract is signed.
• B)date the customer pays for the goods.
• C)date the customer orders the goods.
• D)delivery of goods to customer.

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Definitions:

Isolated Environment

A setting or condition that is detached or separate from others, often used to control variables in experiments or to ensure security.