Receipt of cash by the seller at the time of sale is not required for the recognition of revenue.

Name: Receipt of cash by the seller at the time of sale is not required for the recognition of revenue.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the revenue recognition principle, revenue should be recognized when it is earned, regardless of when cash is received. Therefore, receipt of cash is not a requirement for revenue recognition.

Receipt of Cash by the Seller at the Time of Sale