All sales regardless of whether they are in the form of cash or credit should be recognized on financial statements.

Name: All sales regardless of whether they are in the form of cash or credit should be recognized on financial statements.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

All sales, whether they are in the form of cash or credit, are recognized on financial statements as revenue. This is in accordance with the accrual accounting method, where revenue is recognized when it is earned rather than when cash is received.

All Sales Regardless of Whether They Are in the Form