According to generally accepted accounting principles,revenue should be recognized at the earliest time when

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According to generally accepted accounting principles, revenue should be recognized at the earliest time when the "critical event" has taken place and the amount of revenue collected is reasonably assured. This means that there is a high likelihood that payment will be received for the goods or services provided. The "critical event" refers to the point at which the seller has fulfilled their obligations and the buyer is obligated to pay. Collection does not have to be guaranteed, but it must be reasonably assured. Therefore, option B is the best choice.

According to Generally Accepted Accounting Principles,revenue Should Be Recognized at the Earliest