The value of the consideration received must be known or measurable with absolute certainty in order for revenue to be recognized.

Name: The value of the consideration received must be known or measurable with absolute certainty in order for revenue to be recognized.
Brand: Quizplus
Rating: 4.7 (30 reviews)

Question

Quizplus · Accepted Answer

Revenue can be recognized when it is probable that the economic benefits will flow to the entity and the revenue amount can be measured reliably, not necessarily with absolute certainty.

The Value of the Consideration Received Must Be Known or Measurable