The statement regarding recognition versus realisation of revenue that is true is:
A)For an asset to be "realised' there must be an inflow of assets or a measurable change in the value of an asset
B)'Recognition of revenue' means an inflow of liquid assets
C)'Realisable' means the asset received is readily convertible to known amounts of cash
D)All of the above are true

Question

Quizplus · Accepted Answer

The Answer of The statement regarding recognition versus realisation of revenue that is true is:
A)For an asset to be "realised' there must be an inflow of assets or a measurable change in the value of an asset
B)'Recognition of revenue' means an inflow of liquid assets
C)'Realisable' means the asset received is readily convertible to known amounts of cash
D)All of the above are true

The Statement Regarding Recognition Versus Realisation of Revenue That Is