Explain whether a company must have an inflow of an asset to be able to recognize revenue.

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Explain whether a company must have an inflow of an asset to be able to recognize revenue. Also, give two examples of situations in which revenue is earned continuously over a period of time.

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Using Financial Accounting Information The Alternative to Debits and Credits

ISBN: 978-1133161646

7th Edition

Authors: Gary A. Porter, Curtis L. Norton

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Question Posted: Jan 12, 2012 02:41 AM

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Explain whether a company must have an inflow of an asset to be able to recognize revenue.

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Revenues are inflows of assets or reductions of liabili...View the full answer

Using Financial Accounting Information The Alternative to Debits and Credits

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