Multiple Choice
A bakery shop makes a large sale for $1400 on November 30. The customer is sent a statement on December 5 and a check is received on December 10. The bakery shop follows GAAP and applies the revenue recognition principle. When is the $1400 considered to be recognized?
A) December 5.
B) December 10.
C) November 30.
D) December 1.
Correct Answer:
Verified
Correct Answer:
Verified
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