Under the Revenue Recognition Principle,a Good or Service Is Considered

question 90

Multiple Choice

Under the revenue recognition principle,a good or service is considered transferred when ________.

• A) all performance obligations have been satisfied
• B) the customer obtains control of the good or service
• C) the business has received cash from the customer
• D) the transaction price has been determined

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Definitions:

Execute

The process of carrying out an instruction or series of instructions by a computer or programmable device.

Projects

Organized efforts or plans undertaken to achieve a specific goal, often used in professional and technological contexts.

Programming Languages

Formal languages comprising sets of instructions that produce various kinds of output, used in the creation of software programs.