Revenue is traditionally recognized in the accounting records when
A) cash is received.
B) services are provided to the customer.
C) it is incurred.
D) None of the answers are correct.

Question

Quizplus · Accepted Answer

According to the accrual basis of accounting, revenue is recognized when services are provided to the customer, regardless of whether cash has been received or not.

Revenue Is Traditionally Recognized in the Accounting Records When