Revenues are realized when a company exchanges goods and services for cash or claims to cash.

Name: Revenues are realized when a company exchanges goods and services for cash or claims to cash.
Brand: Quizplus
Rating: 5.0 (42 reviews)

Question

Quizplus · Accepted Answer

Revenues are recognized when a company has earned or delivered goods or services, and the customer has paid, is obligated to pay, or is highly likely to pay for those goods or services. This typically involves an exchange of cash or a claim to cash, such as a receivable.

Revenues Are Realized When a Company Exchanges Goods and Services