Revenue must be recognized once the sales or performance effort is substantially complete, regardless of whether or not collection is reasonably assured.

Name: Revenue must be recognized once the sales or performance effort is substantially complete, regardless of whether or not collection is reasonably assured.
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

Quizplus · Accepted Answer

Revenue recognition requires that collection is reasonably assured, in addition to the sales or performance effort being substantially complete.

Revenue Must Be Recognized Once the Sales or Performance Effort