Which of the following is not one of the criteria that normally must be met for revenue
Question:
Which of the following is not one of the criteria that normally must be met for revenue to be recognized according to the revenue recognition principle for accrual basis accounting?
a. Cash has been collected.
b. Services have been performed.
c. Goods have been transferred.
d. The amount the company expects to be entitled to receive is determinable.
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Related Book For
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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