Revenue Should Be Recognized When

question 132

Multiple Choice

Revenue should be recognized when

• A) cash is received
• B) the service is performed
• C) the customer places an order
• D) the supplier charges an order

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Definitions:

Bicarbonate Ions

Chemical ions (HCO3-) that act as a buffer in blood and help maintain the body's pH balance.

Pepsinogen

Proenzyme formed and secreted by the chief cells of the gastric mucosa; the acidity of the gastric juice and pepsin itself converts pepsinogen into pepsin.

Zymogen Granules

Intracellular storage granules found in the pancreas and other glands, containing inactive enzyme precursors that can be activated when needed.

Salivary Amylase

An enzyme found in saliva that starts the process of breaking down starches into sugars during digestion.