Revenue is not recorded in the accounting period when:
A) there is an increase in assets or a decrease in liabilities.
B) the service has been performed or the goods have been sold and delivered.
C) the revenue can be reliably measured and collection is reasonably certain.
D) there is a decrease in assets or an increase in liabilities.

Question

Quizplus · Accepted Answer

Revenue is not recorded when there is a decrease in assets or an increase in liabilities, as these do not indicate revenue generation.

Revenue Is Not Recorded in the Accounting Period When