Multiple Choice
Which of the following are the two components of the revenue recognition principle?
A) Cash is received and the amount is material.
B) It is probable that future economic benefits will flow to the company and it is possible to reliably measure the amount.
C) Production is complete and there is an active market for the product.
D) Cash is realized or realizable and production is complete.
Correct Answer:
Verified
Correct Answer:
Verified
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