Which of the following is a criterion that must be met to recognize revenue from the sale of goods?
A) The receipt of consideration to which the entity is entitled under the contract must be probable.
B) The goods must have been delivered into the customer's physical possession.
C) All of the contract's performance obligations must have been satisfied.
D) It is highly probable that the buyer will pay the consideration promptly.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is a criterion that must be met to recognize revenue from the sale of goods?
A) The receipt of consideration to which the entity is entitled under the contract must be probable.
B) The goods must have been delivered into the customer's physical possession.
C) All of the contract's performance obligations must have been satisfied.
D) It is highly probable that the buyer will pay the consideration promptly.

Which of the Following Is a Criterion That Must Be