The Event That Triggers Revenue Recognition for the Sale of Goods

question 181

Multiple Choice

The event that triggers revenue recognition for the sale of goods is the:

• A) date a contract is signed.
• B) date cash is received.
• C) transfer of control of the goods to the purchaser.
• D) completion of the services.

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Definitions:

Nutritional Needs

encompass the essential vitamins, minerals, and food energy required by an organism for healthy growth and function.

Global Food

Pertains to the production, distribution, and consumption of food products and resources worldwide, highlighting the interconnectedness of food systems on a planetary scale.

Spoilage

The process of food becoming unfit for consumption due to bacterial growth, chemical breakdown, or other reasons, often resulting in a decrease in nutritional value and safety.

Plate Waste

Food that is served but not consumed, often seen in settings like restaurants and cafeterias, contributing to overall food waste.