Which of the following is not criteria pertaining to the revenue principle?
A)The goods or services have been delivered.
B)The selling price is fixed or determinable.
C)Collection is reasonably assured.
D)The cash payment has been received.

Question

Quizplus · Accepted Answer

Under accrual accounting, the revenue principle states that revenues are recognized when goods or services are delivered, there is persuasive evidence of an arrangement for customer payment, the price is fixed or determinable, and collection is reasonably assured.

Which of the Following Is Not Criteria Pertaining to the Revenue