Which of these is not an accepted exception to the recorded revenue at the time of sale?
A)Revenue recognised upon receipt of an order
B)Revenue recognised at the end of production
C)Revenue recognised when cash is received after the sale is made
D)Revenue recognised during production

Question

Quizplus · Accepted Answer

Revenue cannot be recognised upon receipt of an order as this does not represent an actual sale. Revenue should only be recorded when goods or services have been delivered or rendered and there is reasonable assurance of payment.

Which of These Is Not an Accepted Exception to the Recorded