What two general criteria determine when revenues can be recognized? What do these criteria mean?

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1111822361

1st edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Question Posted: Sep 11, 2016 11:13 AM

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What two general criteria determine when revenues can be recognized? What do these criteria mean?

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The two criteria that determine when revenues can be recognized are 1 The revenues have been earned 2 Collection has occurred or is reasonably certain to occur The first criterion means the company cannot recognize ...View the full answer

Intermediate Accounting Reporting and Analysis

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