Under U.S. GAAP, revenues are considered ________ when the seller has accomplished what it must do to be entitled to the revenues.
A) recognized
B) earned
C) realized
D) entitled

Question

Quizplus · Accepted Answer

Under U.S. GAAP, revenues are considered "earned" when the seller has accomplished what it must do to be entitled to the revenues, meaning the earnings process is complete or virtually complete.

Under US GAAP, Revenues Are Considered ________ When the Seller Has