When Is Revenue from the Sale of Merchandise Normally Recognized

question 157

Multiple Choice

When is revenue from the sale of merchandise normally recognized?

• A)On the date the sale is made
• B)When the customer pays for the merchandise
• C)Either on the date on which the sale occurs,or the date on which the customer pays
• D)When the merchandise is sold,if sold for cash,or when payment is received,if sold on credit

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Definitions:

Sentence

The punishment, or penalty, ordered by the court to be inflicted on a person convicted of a crime.

Probable Cause

A reasonable basis for believing that a crime has been or is being committed, justifying a search or arrest by law enforcement.

Motion To Suppress

A request made to a judge to exclude certain evidence from trial, typically because it was obtained in violation of the defendant's rights.

Seized Evidence

Items or information gathered through legal authority that are used in court to prove the facts of a case.