One criterion for recognition of revenue is to recognize revenue when
A) cash is collected.
B) collection is not assured.
C) the seller does not have control over the goods.
D) all sales returns have been returned.

Question

Quizplus · Accepted Answer

Revenue is recognized when the seller has transferred control of the goods to the buyer, not necessarily when cash is collected or when all returns have been processed.

One Criterion for Recognition of Revenue Is to Recognize Revenue