Which of the following statements regarding revenue recognition is false?

A lessor (landlord) generally recognizes rent income as time passes regardless of when (beginning of period or end of period) cash is received from the lessee (tenant).

Under generally accepted accounting principles sellers of goods and/or services recognize revenue in the period in which cash is received from customers regardless of the timing of the receipt of cash.

Under generally accepted accounting principles service providers recognize revenue when services are performed for a customer.

Under generally accepted accounting principles sellers of goods recognize revenue in the period title passes to the customer.

Answer rating: 100% (QA)

C Under generally accepted accounting principles service providers recognize revenue when services a... View the full answer