Revenues are normally considered to have been earned when a. All possibility of return has expired. b.
Question:
Revenues are normally considered to have been earned when
a. All possibility of return has expired.
b. The company has substantially accomplished what it must to be entitled to the benefits.
c. The cash is collected.
d. Goods have been shipped.
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a Incorrect Allowances can be made for anticipated returns if the earning process is ...View the full answer
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Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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