Question $1($Mandatory$)(2$ points$)$

Which of the following is true of the accrual accounting treatment of a credit sale of goods?

$6$

Revenues are not recognized until cash payment is received.

$9$

bi Revenue recognition occurs at the time of sale

$12$

$$ Revenue recognition and cash payment occur simultaneously.

$15$

d$)$

Cash payment always exceeds the amount of revenues recognized