When does the all-events test under the accrual method require the recognition of income from the sale of goods?

Question

Quizplus · Accepted Answer

Under the accrual method of accounting, the all-events test requires the recognition of income from the sale of goods at the earliest of three dates: (1) when the title of the goods passes to the buyer, (2) when payment is due from the buyer, or (3) when payment is received from the buyer. Therefore, the correct answer is D.

When Does the All-Events Test Under the Accrual Method Require