Question

In: Accounting

Revenue generally should be recognized at the time of cash collection. when the performance obligation is...

Revenue generally should be recognized

at the time of cash collection.
when the performance obligation is satisfied.
when realized.
at the end of production.

Solutions

Expert Solution

Correct Asnwer is " When the performance obligation is satisfied"

Reasons:-

As per Financial Accounting Standards Board(FASB) define the principles for recognizing revenue when "Recognize revenue when the performance obligations are met".

ekkarill92 answered 3 years ago
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