Sales revenues are usually considered recognized when
A) cash is received from credit sales.
B) an order is received.
C) goods have been transferred from the seller to the buyer.
D) adjusting entries are made.

Question

Quizplus · Accepted Answer

Sales revenues are recognized when control of goods has been transferred from the seller to the buyer. This is often represented by the issuance of an invoice or completion of a delivery, and is not dependent on the timing of cash receipt or the recording of adjusting entries.

Sales Revenues Are Usually Considered Recognized When