In general, revenue is recognized
A) during the production process.
B) upon completion of the production process.
C) when cash is received.
D) when goods are sold or services are rendered.

Question

Quizplus · Accepted Answer

Revenue is typically recognized when goods are sold or services are rendered, according to the revenue recognition principle in accounting. This principle dictates that revenue is recognized when it is earned and realizable, regardless of when cash is received.

In General, Revenue Is Recognized