A company sold and delivered inventories to a customer in 2014 but collected the sale proceeds in 2015. According to US GAAP, the company included the revenue in total revenue of 2014 rather than 2015. What do you think are the benefits of recognizing revenue when inventories were sold rather when sale proceeds are collected?

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There are several benefits to recognizing revenue when inventories were sold rather than when sale p... View the full answer