When goods are sold on credit, revenue usually should be recognized at the date of which of the following?

Name: When goods are sold on credit, revenue usually should be recognized at the date of which of the following?
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Question

Quizplus · Accepted Answer

Revenue is recognized at the point when the title of the goods is transferred from the seller to the buyer. This point is also called the point of sale. It is at this point that the seller can reasonably measure the amount of revenue recognized from the transaction.

When Goods Are Sold on Credit, Revenue Usually Should Be