The amount of revenue to record is the amount of cash or its equivalent that is transferred from the customer to the seller.

Name: The amount of revenue to record is the amount of cash or its equivalent that is transferred from the customer to the seller.
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

This statement is true. Revenue is the amount earned from selling goods or providing services, and this amount is recorded when cash or its equivalent is received from the customer.

The Amount of Revenue to Record Is the Amount of Cash